Block announced that in Q4 2023, Cash App generated $66 million in Bitcoin gross profit up 90% year-over-year.
BitPay, a Bitcoin payment service provider and wallet firm has decided to make a shift towards remote work on a permanent basis.
Bill Zielke, BitPay’s CMO, commented that the team is currently working at a fully remote capacity owing to the COVID Coronavirus and will remain under this approach until further notice. He added:
“Then, employees will have option to use our offices or remain remote. We plan to have office space for meetups, training, customer events, and company gatherings and events.”
Cryptocurrency well suited for remote work
Stephen Pair, co-founder and CEO of BitPay, noted that the virtual measures in place worked well, saying:
“We were closely following the coronavirus and immediately recognized its significance. As a result, the executive team implemented a virtual plan to continue business as usual for the well-being of our employees. The work from home policy worked out well, so we turned to cyberspace for continued work.”
Given that the cryptocurrency is an internet-based industry, it stands to reason that the companies within the field would be well positioned to flourish under remote work. This has been a trend across online spaces, with other cryptocurrency platforms such as Binance taking a remote-approach for the forseeable future.
Cryptocurrency employees prefer remote work
A release shows that the majority of employees (a whopping 85%) would opt for remote work, commenting that they are more productive from home. In response to this, the company decided to make the work-from-home approach permanent. Regarding this shift, Andrew Kelin, the marketing director of BitPay, stated:
“It took a bit of adjusting to working from home because I am an outgoing and social person. I am grateful to have this flexibility and my team is able to collaborate and work together as if we were side-by-side.”
According to Zielke, BitPay staff are taking the remote-work positively at a global scale saying: “While the team in Argentina all said they would prefer to work from home and are more productive, 86% of the U.S. and 75% from Amsterdam employees said so as well.”