MicroStrategy will now pay non-employee board members entirely in bitcoin

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MicroStrategy Incorporated logo seen exhibited on a smartphone.

MicroStrategy said it is paying its non-employee supervisors entirely in bitcoin rather than cash.
Under the new agreement, reimbursement is going to be converted into bitcoin from US bucks.
This movement reinforces the plank 's commitment to bitcoin and its ability to serve as a store of value.
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MicroStrategy on Monday said it is paying non-employee board members entirely from bitcoin rather than cash.

Company founder and CEO Michael Saylor made the statement on Twitter, followed by a Form 8-K.

"In approving bitcoin as a form of compensation for Board service, the Board cited its dedication to bitcoin granted its capacity to serve as a store of value, supported by a robust and public open architecture structure, untethered to sovereign financial policy," the company stated.

Under the new agreement, the reimbursement is going to be converted into bitcoin out of US dollars and will be dragged into the non-employee supervisors ' electronic wallets. The fees payable are all unchanged.

The movement was cheered on by bitcoin bulls like Anthony Pompliano, who predicted Saylor a legend, and Tyler Winklevoss, who stated bitcoin is "the ultimate exit plan. "

Saylor's announcement follows the company's last $15 million bitcoin buy on April 5. The company intelligence firm's complete bitcoin holdings are now worth almost $5.29 billion.

MicroStrategy, the first corporation to immediately buy bitcoin, made its first $250 million investment in August of both 2020 and announced that it had been utilizing present cash on its balance sheet to obtain more of the electronic money.

Saylor has long been an advocate of electronic currencies, particularly bitcoin, and has been vocal about his stance. Even the bitcoin evangelist in February this year stated 2021 is the "year of systemic investment" at cryptocurrency.

Bitcoin this season been adopted by leading institutions including Goldman Sachs, BNY Mellon, Tesla, PayPal, and Visa.

The entire world 's most popular cryptocurrency rose up to 2.6% to $61,229 on Monday since crypto recommends gear up for Coinbase's direct listingram on Wednesday. The spike took the coin near its all-time high $61,742 attained on March 13.

Read the original article on Business Insider

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