MicroStrategy Says Some of Its Board Directors to Be Paid in 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.
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
