A Japanese internet services provider has announced plans to start paying employees in Bitcoins.
A spokesperson from GMO Internet (TYO: 9449) said that from February 2018, the firm will be paying up to 100,000 yen (£660) monthly in the form of the cryptocurrency.
“Employees can receive salaries by Bitcoin if they want to,” said the spokesperson. “We hope to improve our own literacy of virtual currency by actually using it.”
GMO Internet, which operates various web-related businesses including finance, online advertising and internet infrastructure, have an interest in promoting Bitcoin. The company actively trades in Bitcoins and is set to launch a new cryptocurrency mining operation in 2018.
“The GMO Internet Group will contribute to the development of virtual currencies in the world by promoting efforts related to virtual currency throughout the group,” said the company in a statement.
The price of Bitcoin has surged this year, starting 2017 at $1,000.
The cryptocurrency has also gained legitimacy this year. The Chicago exchange launched a product that allows investors to take bets on the currency’s future price.
A regulated exchange is a sign that bitcoin edging its way into the mainstream and shifting away from its current association with technology experts and even criminals.
Increased trading led to fresh warnings of a bubble.
Jamie Dimon, chief executive of JP Morgan (NYSE: JPM), said on CNBC: “Everyone has a personal opinion about bitcoin. I remain highly sceptical of it. But as I’ve said previously, I’m open-minded to uses of cryptocurrencies if properly controlled and regulated.”
Dimon’s comments follow the remarks made by Sir Howard Davies, chairman of Royal Bank of Scotland (LON: RBS). Davies said: “Put up the sign from Dante’s Inferno – ‘Abandon hope all ye who enter here’ – I think that’s probably what’s needed,”
Recent price rises in the currency saw the Bitcoin trading close to $18,000.