$BTC: Cyber Security Firm ‘Converts Its Entire Balance Sheet Into Bitcoin’

Octagon Networks, which is “an emerging research and development company focused on tackling advanced threats, threat actors and vulnerabilities”, says that it has “finished the process of converting its liquid assets and entire balance sheet into Bitcoin.”

The startup says on its website that it is “a global network of well versed and experianced security researchers, software engineers and hackers working together to change the tide against cyber intrusions” and that its team is “based in San Fransisco, Addis Ababa and remote.”

In a blog post published last Saturday (June 4), Octagon Networks annoiunced that it had “finished the process of converting its liquid assets and entire balance sheet into Bitcoin” and that it was going to accept Bitcoin payments for all of its services, “with a 50% discount when paid in Bitcoin.”

It went on to say:

As security researchers, engineers, and hackers distributed across countries, 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 into cyberspace. 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.

We believe Bitcoin will lead the world toward a better future. Bitcoin will help accelerate our other goals to bring high-quality cybersecurity solutions to the masses and help tackle the complicated bureaucracy involved with acquiring international customers and talent. Our inspirations for these ideas are many, but our implementation of this specific model was inspired by MicroStrategy Inc.

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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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