Firm succumbs to staff yen for bitcoin

● A Japanese company will start paying part of its employees’ salaries in bitcoin as it aims to get a better understanding of the virtual currency, a spokeswoman said on Friday.

GMO Internet, which operates a range of webrelated businesses including finance, online advertising and internet infrastructure, will start paying up to 100 000 yen (about R11 960) monthly by bitcoin to its employees in Japan from February next year.

“Employees can receive salaries by bitcoin if they want to,” said company spokeswoman Harumi Ishii.

“We hope to improve our own literacy of virtual currency by actually using it,” she said.

The offer would be open to about 4 000 employees of the GMO group in Japan, she said.

The company started a bitcoin trading and exchange business in May.

Next month, it will join the “bitcoin mining” business — gaining the right to receive new bitcoins as a reward for helping to keep the network secure by approving transactions.

World bitcoin prices have surged globally this year, soaring from less than $1 000 in January to more than $17 000 this week.