(Reuters) – Software development services provider Sequoia Holdings LLC said Thursday that its employees can now receive part of their salary in cryptocurrencies, if they choose.
Under the new program, employees can choose to defer a portion of their salary to bitcoin, bitcoin currency, or the ether of the Ethereum platform, Sequoia Holdings said.
Earlier this month, Bitcoin, the world’s most popular cryptocurrency, hit a record high of $ 40,000, picking up more than 900% from a low in March and just breaking $ 20,000 in mid-December.
The rise has been driven by increased demand from institutional, corporate and more recently investors, attracted by the expectation of quick gains.
Reporting by Akanksha Rana in Bengaluru; Edited by Shinjini Ganguli