This is one of the recommendations made by the Chamber of Commerce to members and also suggests that they do not speculate on the money to pay salaries.
From today when the Bitcoin Law comes into force, businesses that receive digital currency as a form of payment will be better off without converting it into dollars. This is the advice that the Chamber of Commerce has given to its partners so that they do not risk losing revenue due to the volatility of Bitcoin.
“The recommendation we are giving to partners is that, understanding their profile and business model, they should not think about speculating with the money they need for the payroll and to pay the bills, that they pass it on to dollars so that they pay salaries in dollars and so it must be and must continue to be done, and if you pay suppliers in dollars it is better to receive and have dollars “, said the president of the union, Jorge Hasbún, during a forum on Twitter of the Newspaper of Today.
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Hasbún added that almost 90% of the members of the Chamber are SMEs (micro, small and medium-sized enterprises) and said that “there is not a single person with whom he has spoken who will tell me that he will stay with the Bitcoins, everyone is going to seek to convert them to dollars immediately and deposit them in a bank in the financial system. “
According to the leader, SMEs are more thinking about how to solve the day to day and are not thinking about investing their money in a volatile cryptocurrency, but what they need is to have it in dollars to pay to its collaborators, to pay for services, to buy from suppliers, among other uses.
The executive was asked how they are going to register purchases from suppliers, what kind of exchange they are going to handle from now on, what extra expenses it will entail for businesses and whether they are going to acquire technology equipment under the new legislation.
Hasbún responded that on the subject of contracts what they have talked to the lawyers is that they will be kept in dollars and that at the time a transaction is made it will be at the price of dollars to date. He also indicated that equal prices will remain marked in dollars in trades and as for suppliers he reiterated that in the international market for goods, to date, no supplier like China or USA will receive a payment in Bitcoin.
At the same time, he noted that the volatility of Bitcoin would only be assumed by someone who does not make an immediate conversion either in an international portfolio such as Coindesk or Binance or in the “Chivo” government portfolio. “This cryptocurrency is so volatile that I would not recommend it to anyone, because the cost of replacing this product may not be possible by obtaining it by marking it in Bitcoin,” Hasbún stressed.
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