Cybersecurity firm supports Bitcoin ‘mission,’ converts balance sheet to BTC
Another business jumps aboard the Bitcoin bandwagon. Octagon Networks, a global cybersecurity network company with over 20 employees announced on June 6 that it had “finished the process of converting its liquid assets and entire balance sheet into Bitcoin (BTC).”
The group will also “start accepting Bitcoin payments for all of our services, with a 50% discount when paid in Bitcoin.”
Today, Octagon Networks becomes the first cybersecurity company to convert it's entire balance sheet into #Bitcoin. We will also start accepting payments in Bitcoin, and offering a discount to encourage the use of Bitcoin. Read More: https://t.co/32mcdlUEGu
Cointelegraph spoke to the Ethiopian cofounders of Octagon Networks, who preferred to remain anonymous. They explained that adopting Bitcoin was driven by a belief in Bitcoin and volition to support the network:
They added that the “$25,000 area” could be the bottom of the bear market, while qualifying that the Bitcoin they have accumulated “doesn't affect our operating costs as everyone who works here is a sole believer in the mission of Bitcoin.”
The team stressed that — contrary to a commonly held belief that adopting Bitcoin is an attack on fiat currency — the group is proud of its Ethiopian roots and continues to use local currencies as well as Bitcoin:
Nonetheless, while the volatility of Bitcoin is too much for those in the western world to stomach, Octagon Networks explained that some of its employees choose Bitcoin as their preferred currency. Across Africa, several currencies — especially the CFA franc, a currency in use across 14 African nations — have lost purchasing power while leaving governments powerless.
Related: Why the rise of a Bitcoin standard could deter war-making
Moreov
Read more on cointelegraph.com
