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


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

Start Earning Interest

The software firm was the first major business to accumulate Bitcoin. And its are now adopting the asset in a big way.

· 1 min read

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.

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.”

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Like what you see? Subscribe for updates.





Source link

Latest articles

Norway’s minister of climate Sveinung Rotevatn is a Bitcoin ‘hodler’

Norway’s minister of climate and environment Sveinung Rotevatn sits on a stack of Bitcoin, he revealed in an interview this week.“...

Here’s two important reasons why Cardano (ADA) hit an all-time high today

Here's two important reasons why Cardano (ADA) hit an all-time high today Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR,...

Korean crypto exchanges could face harsh laws if new proposal is passed

The ruling party of South Korea has proposed a new bill that aims to limit crypto-related companies’ ability to trade digital...

Another U.S. publicly listed company just bought $7 million in Bitcoin

MercadoLibre (Nasdaq: MELI), Latin America’s leading e-commerce technology company, has purchased a small amount of Bitcoin, as per a filing yesterday...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here