Octagon Networks: First Cybersecurity Firm To Convert Balance Sheet Into Bitcoin

Octagon Networks has converted its full equilibrium expanse into bitcoin and volition statesman accepting payments successful BTC for each services.

• Octagon Networks has converted its full equilibrium expanse into bitcoin.
• The institution volition besides statesman accepting bitcoin arsenic outgo for each services, offering a 50% discount to customers utilizing BTC.
• Octagon said MicroStrategy inspired the peculiar concern exemplary it is adopting for its Bitcoin strategy.

Octagon Networks has go the archetypal cybersecurity institution to person its full equilibrium expanse into bitcoin, per a statement connected Octagon’s website.

The institution said its adjacent extremity is to alteration Bitcoin payments for each services portion offering a 50% discount erstwhile paid successful bitcoin.

Octagon is simply a probe and improvement squad successful cybersecurity with offices successful the U.S. and Ethiopia, though it is mostly composed of distant hackers and bundle developers crossed the world. In the abbreviated six months of the company’s existence, Octagon has helped to unafraid implicit 1.5 cardinal planetary devices by reporting and disclosing captious vulnerabilities.

Octagon concisely shared its reasoning down its assertive adoption of bitcoin, starting with “We judge Bitcoin volition pb the satellite toward a amended future.”

The institution explained that its inspirations for choosing this circumstantial concern exemplary “are many,” but MicroStrategy, a bundle analytics institution and the world’s largest firm holder of bitcoin, inspired the circumstantial implementation Octagon chose to use.

In short, MicroStrategy’s exemplary tin beryllium summarized arsenic fiat indebtedness for bitcoin. The steadfast routinely takes either bitcoin-backed loans oregon fiat loans to acquisition bitcoin and adhd it to its equilibrium sheet.

The bundle analytics institution has made caller headlines for plans to connection a 401(k) which volition let employees to acquisition bitcoin wrong their status portfolios done Fidelity.

Andrew Kang, MicroStrategy’s caller CFO, besides addressed the company’s Bitcoin strategy saying that helium cannot foresee a script successful which the institution would see selling its bitcoin. While Octagon’s introduction into a caller fiscal frontier is mostly inspired by MicroStrategy, it volition apt carve retired immoderate caller methods successful the satellite of cybersecurity.