MicroStrategy Pivots to Bitcoin Payouts for Board of Directors
April 12, 2021
MicroStrategy Inc. is pivoting to payouts in Bitcoin for its four non-employee board of directors, marrying management closer to the software maker’s strategy of investing in the largest cryptocurrency.
Compensation fees for each board member will be based in U.S. dollars and will be converted into Bitcoin during the time of payment. The move is the software-analytics developer’s “commitment to Bitcoin given its ability to serve as a store of value,” the Tysons Corner, Virginia-based company said in a filing.
Shares in MicroStrategy jumped as much as 4.9% to $745.94 in New York trading. The stock has surged almost 500% in the past year.
Chief Executive Officer Michael Saylor has been one of the most vocal corporate advocates of Bitcoin, saying it should be part of any company’s balance sheet. MicroStrategy was one of the first public companies to invest a significant portion of its treasury into the digital currency.