Ethiopia-based cybersecurity firm Octagon Networks has announced converting its entire balance sheet into Bitcoin (BTC). The company cited <a href="https://www.microstrategy.com/en" target="_blank" rel="nofollow noopener">MicroStrategy</a> as its inspiration to implement this model.
<h2>Octagon Networks Takes Inspiration from MicroStrategy</h2>
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.
<blockquote><em>“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,”</em> the company said in the announcement release.</blockquote>
https://twitter.com/OctagonNetworks/status/1533540737823805440

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 Bitcoins worth above $4 billion.

Octagon Networks is a cyber security research and development company that just started its operation this year in Addis Ababa, Ethiopia. Since its launch, the company has grown and expanded to employ <a href="https://www.cryptoknowmics.com/news/cardano-foundation-announces-multiple-rewards-for-hackers-finding-potential-flaw/" target="_blank" rel="noopener">ethical hackers</a> and software developers in the US and across the globe.

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).

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

First-Ever Cybersecurity Firm to Convert Balance Sheet into Bitcoin

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