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Octagon Networks converts its entire balance sheet into Bitcoinoctagon.net/press/2022/06/05/octagon-networks-converts-its-balance-sheet-into-bitcoin
18 sats \ 10 comments \ @cryptocoin 5 Jun 2022 bitcoin
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31 sats \ 0 replies \ @k00b 5 Jun 2022
It’s not clear how big their balance sheet is tho
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0 sats \ 0 replies \ @cryptocoin OP 6 Jun 2022
Bitcoin Magazine had an article, on this development:
Octagon Networks: First Cybersecurity Firm To Convert Balance Sheet Into Bitcoin https://bitcoinmagazine.com/business/octagon-networks-converts-full-balance-sheet-into-bitcoin
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10 sats \ 0 replies \ @KenyaCoin 6 Jun 2022
Coincidentally, (or not), the central bank in Ethiopia has released a statement:
National Bank of Ethiopia warns against transactions in digital currencies | FBC #34520 https://www.fanabc.com/english/national-bank-of-ethiopia-warns-against-transactions-in-digital-currencies
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20 sats \ 1 reply \ @jeff 6 Jun 2022
Octagon Networks has finished the process of converting its liquid assets and entire balance sheet into Bitcoin.
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Today will be by my last day at Octagon
Seems like an odd combo of a blog-post, no? It's like -- "We switched to sats, my work here is done. BTW, I'm out, good luck sukkaz"
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0 sats \ 0 replies \ @cryptocoin OP 6 Jun 2022
Odd, but maybe still holds equity or something, and wanted to ensure that the corporate funds (treasury) is not depleted, so putting funds in bitcoin not only gives public visibility (to him at least, as he knows the address(es)), but with multisig, the comfort knowing that spending from it would need (cryptographic) signatures of multiple execs.
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20 sats \ 0 replies \ @siggy47 5 Jun 2022
This is timely with all the recent developments in Africa.
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20 sats \ 0 replies \ @faithandcredit 5 Jun 2022
At least their timing seems better than other companies so far
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10 sats \ 0 replies \ @KenyaCoin 5 Jun 2022
Project Mano has been working with very inspiring group of talented hackers with insane achievements. Today @OctagonNetworks becomes the first Ethiopian company to convert it's entire balance sheet into #Bitcoin as well as accept Bitcoin for their services with a huge discount.
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0 sats \ 0 replies \ @cryptocoin OP 6 Jun 2022
Bitcoin Magazine had an article, on this development:
Octagon Networks: First Cybersecurity Firm To Convert Balance Sheet Into Bitcoin https://bitcoinmagazine.com/business/octagon-networks-converts-full-balance-sheet-into-bitcoin
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0 sats \ 0 replies \ @cryptocoin OP 5 Jun 2022
As security researchers, engineers, and hackers distributed across multiple third-world 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 across borders!
[...] will also start accepting Bitcoin payments for all of our services, with a 50% discount when paid in Bitcoin.
Our inspirations for these ideas are many, but our implementation of this specific model was inspired by MicroStrategy Inc, based in the US.
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