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

MicroStrategy, the business intelligence firm that has madeÂ bitcoinÂ 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 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.

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.