Crypto Currency Tracker logo Crypto Currency Tracker logo
Cryptoknowmics 2022-06-06 11:24:31

First-Ever Cybersecurity Firm to Convert Balance Sheet into Bitcoin

Ethiopia-based cybersecurity firm Octagon Networks has announced converting its entire balance sheet into Bitcoin (BTC). The company cited MicroStrategy as its inspiration to implement this model. Octagon Networks Takes Inspiration from MicroStrategy Octagon Networks has become the first cybersecurity firm to convert all of its assets into Bitcoin. Furthermore, the company shall also be accepting Bitcoin payments for all of its services, with a 50% discount when paid in the said cryptocurrency. “We have always admired Bitcoin’s ongoing contributions to the advancement of humanity, and now appreciate how it has opened the door for us to expand our work across borders! We are by no means a big company, but as far as we know, we are the first cyber security company to convert all of its assets into Bitcoin and to accept Bitcoin payments,” the company said in the announcement release. 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 — Octagon Networks (@OctagonNetworks) June 5, 2022 The company said that it took inspiration from US-based business intelligence firm MicroStrategy, to go with the move. MicroStrategy initially started adding Bitcoin to its balance sheet in August 2021. As of date, the company holds 129,218 Bitcoi...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.