Sequoia Holdings — a software development services provider, not to be dislocated with the well-known venture capital firm Sequoia Capital — is offer its staff the option to set aside a portion of their salary and invest information technology in cryptocurrency.

Sequoia Holdings is based in Reston, Virginia and provides engineering and analytic solutions to the United states of america national security sector, including the intelligence, defence and homeland security departments. It is also, notably, an employee-owned firm, which suggests the optional integration of cryptocurrency into salary arrangements could be a skilful barometer of popular staff sentiment.

The company'south employees will be able to choose to defer a portion of their salary and have it invested in either Bitcoin (BTC), Bitcoin Cash (BCH) or Ether (ETH). While Sequoia Holdings draws an analogy with widespread 401(yard) retirement savings plans for other U.S. employees, the difference here is that the deferral volition, in this case, exist calculated after revenue enhancement deductions.

Sequoia Holdings does not indicate what portion of employees' bacon can be deferred if called, nor does it name the third-political party payroll processing business firm that volition exist responsible for withholding the taxes and converting the remainder into the called cryptocurrency. All crypto savings will exist held in a digital wallet that will be managed by this same 3rd-party payroll processor.

In a statement for the company, Sequoia Holdings'south co-founder and CEO, T. Richard Stroup Jr., said:

"Many of our employees are enthusiastic supporters of cryptocurrency, and we're happy to help them proceeds exposure to this trillion-dollar asset class. [...] Cryptocurrency has emerged equally an of import alternative to traditional investments similar stocks and bonds."

Cointelegraph readers will call up the high-profile story from December 2020 when several news outlets claimed that National Football League histrion Russell Okung was choosing to receive half of his salary in Bitcoin. Afterwards a clarification, a spokesperson for his employer, the Carolina Panthers, confirmed that the player's salary was not beingness paid direct in the cryptocurrency, even though Okung himself has hinted that he may indeed be choosing to invest a significant portion of his earnings in crypto himself.