Microstrategy Will Now Pay Board of Directors in Bitcoin as Treasury Grows to Nearly 100K BTC – Finance Bitcoin News
Nasdaq-listed Microstrategy, which has amassed nearly 100,000 bitcoins in its coffers, has changed the compensation arrangements for its board. The company will now pay non-employee directors in bitcoin, justifying its commitment to the crypto-currency by its ability to serve as a store of value backed by a robust, public open-source architecture that is not tied to government monetary policy.
Card payable in bitcoins
Microstrategy Inc. (NASDAQ: MSTR) has filed a form with the U.S. Securities and Exchange Commission (SEC) indicating that the company’s board of directors has changed the way it compensates non-employee directors. The submission clarifies: In the future, non-employee directors will receive all fees for their services on the company’s board in bitcoins, not cash, he added:
By approving bitcoin as a form of clearing for its services to the Council, the Council signaled its commitment to bitcoin because it can serve as a store of value, supported by a robust and open architecture that is not tied to government monetary policy.
The SEC statement further states that the fees payable to the directors will remain unchanged and will be denominated in nominal U.S. dollars pursuant to the new agreement. It is also noted that at the time of payment, the payment will be converted from USD to Bitcoin by the payment processor and then deposited into the digital wallet of the relevant non-employee administrator.
Microstrategy has been aggressively acquiring bitcoin since it made the cryptocurrency the company’s primary reserve currency last August. In its latest Bitcoin acquisition announcement, at 5. In April, the company said it bought about 253 bitcoins for $15 million in cash, at an average price of about $59,339 per bitcoin, including fees and expenses. From 5. April, Microstrategy says:
The company purchased approximately 91,579 bitcoins for a total purchase price of $2.226 billion and an average purchase price of $24,311 per bitcoin, including fees and expenses.
Do you think corporate boards should be paid in bitcoins? Let us know your comments in the section below.
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frequently asked questions
How many bitcoins does MicroStrategy have?
Since MicroStrategy announced its first bitcoin purchase last August, it has been steadily expanding its cryptocurrency collection. From 1. As of March, the company owns 90,859 BTC, purchased for $2.19 billion, about half the value of its current holdings.
Will BTC reach 100k?
Will bitcoin reach 100,000? Yes, in my uneducated opinion it is likely that the dollar denominated bitcoin price will one day reach the $100,000 mark. … And not because, as proponents often claim, it is inevitable that bitcoin will become the world’s next reserve currency and knock the US dollar off its throne.
What is the BTC payment method?
Bitcoin payment is a payment solution that allows your customers to purchase goods using bitcoins at a real time rate. Once you’ve set up bitcoin payments, your customers can see item prices based on the current bitcoin exchange rate and make payments by entering their one-time login and password.
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