Octagon Networks has converted its liquid assets and entire balance sheet into Bitcoin, making it the first cybersecurity company to hold Bitcoin.
Octagon Networks made the announcement on June 5, 2022 with a statement on its blog. The company also announced that it would start accepting Bitcoin payments for all of their services. To encourage people to use this payment option, Octagon Networks will be offering a 50% discount for payments made in Bitcoin.
Octagon Networks is a cybersecurity company composed of security researchers, engineers, software engineers, and ethical hackers located across the world. The company is focused on research and development while employing a largely remote workforce.
The company cites MicroStrategy Inc. as the main inspiration for its recent change in business model.
A Great Admirer of Bitcoin
Commenting on their move to go all in on Bitcoin, Octagon Networks revealed it has always been an admirer of “Bitcoin’s ongoing contributions to the advancement of humanity.” The company firmly believes that “Bitcoin will lead the world towards a better future.”
Octagon Networks also said that this move opened doors to expand their work into cyberspace. Their statement read:
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.
The news was well-received on Twitter. Many comments commended Octagon Networks, hailing this as a great move. One Bitcoin fan said, “This is what it’s all about. You guys are changing everything you touch. It will change the game.”