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MicroStrategy Says Some of Its Board Directors to Be Paid in Bitcoin
In making the announcement, the firm's board cited its "commitment to 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 the cryptocurrency.
STORY CONTINUES BELOW
- In an 8-K filing with the U.S. Securities and Exchange Commission on Monday, MicroStrategy said that from April 11 onward 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 BTC for $15 million in cash, bringing its total holdings to about 91,579 BTC.
Read more: Forget Buying the Dip, MicroStrategy Buys $15M of Bitcoins as It Nears the All-Time High
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
