MicroStrategy Says Some of Its Board Directors to Be Paid in Bitcoin
12 Apr, 2021•1 min read•Bitcoin
MicroStrategy, the business intelligence firm that has made bitcoin its main treasury reserve, said its non-employee board members will now be compensated in bitcoin.
In an 8-K filing with the U.S. Securities and Exchange Commission on Monday, MicroStrategy said that from April 11 onwards non-employee directors on its board will receive all fees for their service in bitcoin instead of cash. In making the announcement, the firm’s board cited its "commitment to bitcoin." Under this new arrangement, at the time of payment, the fees will be converted from U.S. dollars into bitcoin and then deposited into the digital wallet of the director. On April 5 MicroStrategy, purchased about 253 more bitcoin for $15 million in cash, bringing its total holdings to about 91,579 bitcoin.