Technology

Sequoia Holdings says employees can draw part of salary in cryptocurrencies

Earlier this month, Bitcoin, the world's most popular cryptocurrency, hit a record high of $40,000.   | Photo Credit: Reuters

(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click here to subscribe for free.)

Software development services provider Sequoia Holdings LLC said on Thursday its employees can now receive a part of their salary in cryptocurrencies, should they choose to.

Under the new program, employees can elect to defer a portion of their salary into bitcoin, bitcoin cash, or the Ethereum platform's ether, Sequoia Holdings said.

Also Read | To coin or not to coin?: The must-knows for the crypto-curious

Earlier this month, Bitcoin, the world's most popular cryptocurrency, hit a record high of $40,000, rallying more than 900% from a low in March and having only just breached $20,000 in mid-December.

The surge has been powered by increased demand from institutional, corporate and more recently retail investors, attracted by the prospect of quick gains.

Related Topics
This article is closed for comments.
Please Email the Editor

Printable version | Feb 28, 2021 7:11:27 AM | https://www.thehindu.com/sci-tech/technology/sequoia-holdings-says-employees-can-draw-part-of-salary-in-cryptocurrencies/article33632652.ece

Next Story