MicroStrategy Directors Now Paid in Bitcoin
MicroStrategy’s board members will receive their fees in Bitcoin
Business intelligence firm MicroStrategy has announced that its non-employee directors will now get paid in Bitcoin:
On April 11, 2021, the Board of Directors (the “Board”) of MicroStrategy Incorporated (the “Company”) modified the compensation arrangements for non-employee directors. Going forward, non-employee directors will receive all fees for their service on the Company’s Board in bitcoin instead of cash. In approving bitcoin as a form of compensation for Board service, the Board cited its 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.
The fees will be denominated in USD before getting converted into Bitcoin and deposited to a director’s digital wallet.
MicroStrategy currently holds over $5.5 billion worth of Bitcoin in its reserves after its CEO, Michael Saylor, emerged as one of the cryptocurrency’s most ardent supporters.