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MicroStrategy Will Now Pay Directors’ Board Fees in Bitcoin

MicroStrategy-Directors-Now-Receive-Board-Fees-in-Bitcoin
  • MicroStrategy will now pay its non-employee Directors’ board fees in Bitcoin.
  • The payment processor will convert payment fees from USD to BTC.
  • The firm strongly believes in Bitcoin and its potential.

The finance software giant, MicroStrategy will now pay its non-employee Directors’ board fees in Bitcoin (BTC) instead of cash, as per the firm’s new filing with the US Securities and Exchange Commission (SEC).

MicroStrategy said,

Commitment to bitcoin given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy.

Moreover, the filing adds that the amount of fees it pays remains the same. However, the payment processor will directly convert transaction fees from USD to BTC during payment. After that, the paid Bitcoin will be deposited into the non-employee Directors’ digital wallet.

MicroStrategy Strongly Believes in BTC

With this step, the firm strongly believes in primary cryptocurrency and also the technology the crypto provides. Recently, MicroStrategy purchased another 253 Bitcoins with an average price of $59,339 per coin. Even more, the firm has purchased nearly 100K BTC in total.

All in all, MicroStrategy is one of the famous investment firms known for buying a huge amount of Bitcoins lately. Moreover, many firms worldwide are accepting Bitcoin.

Bitcoin has a big potential to be the future of the payment system in the world. Additionally, MicroStrategy is not the first firm to believe in the potential that Bitcoin brings. Specifically, Tesla has also bought $1.5 billion worth of Bitcoins.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.