This website uses cookies to ensure you get the best experience on our website
Join us on Telegram for FREE daily market updates!
Date:
13th Apr 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

MicroStrategy Board of Directors Now Paid in Bitcoin

MicroStrategy, a NASDAQ-listed business intelligence firm and the biggest holder of Bitcoin, is now paying its five board of directors in Bitcoin. These executives are elected to present the interest of shareholders and for general management oversight. As of writing on Apr 13, the company has over 91.5k BTC in possession, hauling over $3.2 billion in paper profits. 


Details: 

It is vividly clear that MicroStrategy is committed to Bitcoin. Explaining their decision, they mentioned the open architecture of the network and its ability to be a store-of-value that's untethered to any sovereign monetary policy. Still, all fees paid to these directors would be nominally dominated in USD only converted to BTC and deposited to their BTC addresses. This decision follows Tesla accepting payment of their electric cars and other services in BTC. It highlights just how common the coin—initially designed as a medium of exchange is gaining traction as an alternative to the greenback.


Impact of BTC Prices: 

Bullish. The success of BTC is anchored on its adoption. If more companies follow the MicroStrategy route of using BTC as a means of payment, BTC/USD prices will soar. The coin's performance depends on adoption, which influences network activity.


More market news over on our Blog

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
  • Copyright Excel Innovations Ltd (CryptoAltum) 2020