Octagon Network converts all its capital to Bitcoin
Here is a piece of news that is a great boost for cryptocurrencies and, especially, for the most popular of all, Bitcoin. Octagon Networks, a cybersecurity research company with offices in Ethiopia and the United States, has converted its capital to Bitcoins. This is particularly welcome news at a time when Bitcoin seems to have entered a crypto winter.
The company announced on June 5th in a blog post, where it claimed to have completed the process of converting all its liquid assets and its entire balance sheet into Bitcoin. In addition, they assured that they were beginning to accept payments in Bitcoin for all services providing a 50% discount if the cryptocurrency was used.
In that same post, the company declared its admiration for Bitcoin’s contributions to the advancement of humanity and its appreciation for the doors it opened for them when it came to expanding their work in cyberspace. It also claimed to be the first cybersecurity company to convert all of its assets into Bitcoin and to accept cryptocurrency payments, thereby taking considerable risk or at least pioneering the field.
Apparently, the faith of the company is great as they “believe that Bitcoin will lead the world to a better future.” In fact, they believe that cryptocurrency will accelerate their goals of bringing high-quality cybersecurity products to the masses and help them navigate the complicated bureaucracy required to acquire international clients and talent.
The Cointelegraph website was able to speak with the Ethiopian co-founders of Octagon Networks and they explained that the adoption of Bitcoin is due to their faith in the cryptocurrency and their willingness to contribute to the development of the network. “We are great defenders and believers in Bitcoin. We believe in a truly decentralized form of money that can be transferred at the speed of light.”
If you wonder why or other companies would want to invest in Bitcoin, the Criptonoticias website has pondered this question as they feel “it may be because they envision a future of growing adoption. Faced with a limited supply (more than 21 million BTC will never be issued) the price of the cryptoactivity would tend to increase. For this reason, although many of these companies are not dedicated to the world of cryptocurrencies, they decide to invest in this market.”