MicroStrategy becomes the first American company to pay its directors in Bitcoin (BTC)

MicroStrategy board directors will now be paid in Bitcoin, CEO Michael Saylor said in a tweet today.

“The Board of Directors of  MicroStrategy is now paid in Bitcoin,” the tweet read. The board of directors is a panel of high-profile individuals who are elected to represent and protect shareholder interests and managing corporate oversight.

The Board of Directors of @MicroStrategy is now paid in #bitcoin. $MSTRhttps://t.co/3ChlkCNZOT

— Michael Saylor (@michael_saylor) April 12, 2021

As per the company’s investor relations page, MicroStrategy has a total of five board directors including Saylor. These are Stephen Graham, Jarrod M. Patten, Carl J. Rickertsen, and Leslie Rechan.

In a filing to the US Securities and Exchange Commission, MicroStrategy clarified how the director fees in Bitcoin will be paid out. “Going forward, non-employee directors will receive all fees for their service on the Company’s Board in Bitcoin instead of cash,” the filing read.

It noted that the adoption of Bitcoin as a form of compensation for Board service came amidst MicroStrategy’s “commitment to Bitcoin given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy.”

Like what you see? Subscribe for updates.