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...