MicroStrategy Directors Now Receive Board Fees in Bitcoin(Is that TRUE?)

MicroStrategy

MicroStrategy, a publicly-held company lead by Michael Saylor, who’s arguably one of Bitcoin’s biggest proponents, will now pay the board fees to its non-employee directors in bitcoin.

  • As per the new filing with the United States Securities and Exchange Commission (SEC), MicroStrategy has revised the compensation settlements for non-employee directors.
  • As stated in the document, they will “receive all fees for their service on the Company’s Board in bitcoin instead of cash.”
Microstrategy
MicroStrategy Directors Now Receive Board Fees in Bitcoin(Is that TRUE?) 1
  • Advancing even further, the document reads that “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.”
  • As to the legal rules of the payments, the compensation payable to each non-employee director will remain constant and nominally denominated in US Dollars. However, at the time of payment, the fees will be converted from USD to bitcoin using a payment processor and transferred to the wallets of the appropriate non-employee directors.
  • With this progress, the company sticks to its bullish stance on Bitcoin and shows its strong faith in the primary cryptocurrency and the technology that supports it.
  • The company is also reaching to own almost 100,000 bitcoins.
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