Software Development company Sequoia Holdings is set to adopt the use of cryptocurrency to pay its employees salaries. The company has been one of the crypto enthusiasts for a long time. It’s ready to start paying its workers’ salaries in Bitcoin, Ethereum, Bitcoin Cash, or Litecoin — depending on their choice and amount. This was disclosed to the public by the company’s CEO this week as part of his desire to promote the crypto space’s fame and ensure that all workers receive their pay without going through stress or hardship.
Company to strike a deal with payment company as soon as possible
In the statement released by CEO Richard Stroupe on Twitter, Sequoia is on the verge of reaching an agreement with a paying company that will ensure accurate conversion of fiat currency into any digital currency wanted by each of its employees. Every employee would receive their crypto payments after-tax, and the company has deducted other compulsory dues. He confessed that adopting the payment method wasn’t a tough one because all the workers are crypto enthusiasts and are willing to be a part of the industry.
Having seen the improvement and success recorded by the crypto world in 2020, the company and all employees believe it is high time to participate in the fast-growing industry. According to Stroupe, it is better to invest in Bitcoin, and other digital assets than buying bonds and stocks due to the high profits investors are bound to enjoy once there is a surge in any digital currency price.
It should be recalled that Bitcoin reached its all-time high of $41,940 on the 8th of January, while the industry’s overall market cap also witnessed an all-time high of $1 trillion in the same week. Considering the impressive records, Richard Stroupe believes it is highly beneficial to take advantage of the advancement in the cryptocurrency world.
Microsoft, Wikipedia, and AT&T All Accept Cryptocurrency Payment
Sequoia won’t be the first to engage in crypto payment method since the start of the industry a few years back. According to an HSB survey, top-rated and popular firms like Microsoft, Wikipedia, and AT&T accept any payment made in Bitcoin. Experts tip this means of transaction to become one of the easiest and fastest payment methods in the nearest future. In the same vein, crypto-centric companies, including crypto-exchanges, analytics companies, and media outlets, are known for their involvement in using stablecoins as an alternative means of transaction.
Reacting to this thread, Tesla founder and CEO Elon Musk believes more companies will follow Sequoia’s footsteps should the crypto world maintain its steady growth. Like Musk predicted, many governments could start paying for cryptocurrencies if the industry becomes more secure and more reliable. Meanwhile, Sequoia is a software development company shouldering the responsibilities of providing engineering and analytic solutions to the national security sector in the United States (US).