Octagon Networks fully converted its balance sheet into bitcoins

The research company will also begin to provide a 50% discount when paying for services with the first cryptocurrency

06.06.2022 - 11:20

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What’s new? Octagon Networks, a research company, has announced that it has completed the process of converting its liquid assets and entire balance sheet into bitcoins. The company will also begin to provide a 50% discount when paying for services with the first cryptocurrency. Octagon Networks was inspired by the example of the business intelligence software company MicroStrategy, as the first quarter of 2022, it has 129 218 BTC ($4,06 billion at the Binance exchange rate on June 6) in reserves. This was announced by Paulos Yibelo, who also announced that he was stepping down as head of the company.

Octagon Networks’ press release

What is known about Octagon Networks? The company is engaged in research and development in the field of cybersecurity, it was founded in 2022 in Addis Ababa, Ethiopia. Octagon Networks has a staff of more than 20 white hat hackers and software developers around the world.

On 28 May, MicroStrategy CEO Michael Saylor said that he would always buy bitcoin. He called the digital currency “the most certain thing in a very uncertain world” and said that as soon as he or the company had spare money, he would invest in BTC.

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