American IT firm to pay staff in Bitcoin, Ethereum and Bitcoin Cash

Employees at Sequoia Holdings, a software development company, will be able to receive part of their salary in Bitcoin, Ethereum or Bitcoin Cash.

Today we announced our support to pay our employees in #Bitcoin or #Ethereum .. Many of our employees are enthusiastic supporters of #cryptocurrency and we’re proud to help them gain exposure to this emerging asset class. #teamsequoiahttps://t.co/YfyEXS03x5

— Sequoia Holdings (@sequoiainc) January 21, 2021

“We are pleased to offer our team a new opportunity. Many of our employees support cryptocurrencies,” said co-founder and chief executive Richard Stroop.

Sequoia Holdings partners with an external firm that withholds payroll taxes and will now be able to convert part of employees’ income into cryptocurrency. The digital assets will be stored in an electronic wallet, similar to a pension fund.

According to Stroop, cryptocurrency has become an important alternative to traditional investments. The company is proud to have provided employees with an easy way to invest in digital assets and increase their wealth.

At the end of 2020, NFL player Russell Okung began automatically convert to Bitcoin half of his $13 million annual salary.

Earlier, the owner of two bars in New York put them up for sale for 25 BTC or 800 ETH (~$850,000). He is prepared to sell the venues exclusively for cryptocurrency.

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