Employees at software company Sequoia Holdings now have the option of being paid in bitcoin.

Sequoia Holdings will offer its employees’ salaries in cryptocurrencies such as Bitcoin, Bitcoin Cash, and Ethereum. The company did, however, state that, for the moment, only a portion of their salaries would be available in these cryptos.

According to the announcement, the company will also enter into a partnership with a payments company to provide fiat conversion. Sequoia will send the crypto-payments to its employees after tax has been deducted.

Sequoia is a software development company that provides engineering and analytic solutions to the national security sector in the United States (US). The firm’s clients include several agencies involved in US intelligence, defense, and homeland security.

Enthusiastic support

According to the company’s CEO, Richard Stroupe, Jr:

“We’re excited to offer the members of our team this new benefit. Many of our employees are enthusiastic supporters of cryptocurrency, and we’re happy to help them gain exposure to this trillion-dollar asset class.”

Stroupe, Jr., also said, “cryptocurrency has emerged as an important alternative to traditional investments like stocks and bonds.” The move comes as the cryptocurrency market performed strongly in 2020, despite the coronavirus pandemic.

A few weeks ago, Bitcoin broke its all-time high, rallying to $41,941.08 on January 8th. The cryptocurrency market also reached new highs as a whole, with the total market capitalization breaching $1 trillion for the first time.

Bitcoin is Mainstream

With an outperforming market, additional companies are climbing aboard. Wikipedia, Microsoft, and AT&T are the most popular companies accepting bitcoin, according to an HSB survey.

Moreover, crypto-centric firms like crypto-exchanges, analytics companies, and media outlets often pay exclusively in cryptocurrencies such as stablecoins. Even Tesla founder and CEO Elon Musk recently touted Bitcoin as a means to be paid.

Today, cryptocurrencies are mainstream. As the industry matures, expect investments from governments and institutions around the world to open up payments in cryptocurrencies by default.

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.




Download MAXBIT Android App, Your best source of all crypto news!
Google Play

Source link

Read Also:   Short-Notice BTC Margin Trading Stoppage On eToro Brings Criticism

Sequoia Offers Employees Partial Salary in Bitcoin

by Douglas Smith
Choose A Format
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format