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.
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.
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