MicroStrategy, the business intelligence firm that has made bitcoin its main treasury reserve, said its non-employee board members will now be compensated in bitcoin.
- In an 8-K filing with the U.S. Securities and Exchange Commission on Monday, MicroStrategy said that from April 11 onward non-employee directors on its board will receive all fees for their service in bitcoin instead of cash.
- In making the announcement, the firm's board cited its "commitment to bitcoin."
- Under this new arrangement, at the time of payment, the fees will be converted from U.S. dollars into bitcoin and then deposited into the digital wallet of the director.
- On April 5 MicroStrategy, purchased about 253 more BTC for $15 million in cash, bringing its total holdings to about 91,579 BTC.
Read more: Forget Buying the Dip, MicroStrategy Buys $15M of Bitcoins as It Nears the All-Time High
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