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Square To Pay Salary In Bitcoins

19:16 21/03/2019
New Square Employees To Receive Salary In Cryptocurrency

An American payment company Square is hiring specialists in the crypto sphere and promises to pay them wages in bitcoins, Cointelegraph reports referring to Jack Dorsey's Twitter.


The Square CEO stated the company would hire three or four full-time crypto sphere engineers and one designer. Their responsibilities will include working with open source in the crypto ecosystem. Employees will be able to work remotely, and Dorsey offers to pay their labor in bitcoins.


The decision on such payments was made with the aim of broader dissemination and popularization of the digital assets system, as well as the development of the bitcoin community.


Dorsey stated that such an initiative to work with open source will be the first and independent of the company's business. The specialists will be entirely focused on working with solutions that will be useful for the crypto community as a whole and not specifically for the interests of Square.


During 2018, Square sold bitcoins for $166 million, while in Q4, its revenue was more than $52 million. Nevertheless, the net profit from operations with the first cryptocurrency remained low.


The head of Square is a long-time bitcoin supporter. In February 2019, he announced that it will become the currency of the Internet in the future. As previously reported, Dorsey acquired the Lightning Network hardware node with the integrated Bitcoin blockchain from the Casa startup.

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