Business intelligence firm and emerging number one crypto institutional investor MicroStrategy has again endorsed Bitcoin. This time, the firm announced it would be paying its board of directors with Bitcoin.
This was announced by Michael Saylor, the firm’s CEO and founder, in a Twitter post.
From its Bitcoin investment, the NASDAQ listed firm has accrued $100,000in its treasury, making the firm modify its compensation agreement for the board of directors. The business intelligence firm notes its commitment to cryptocurrency, highlighting its ability to serve as a store of value alongside its open end architecture and its sovereignty from monetary policy.
However, the amount each director would receive remains unchanged and would be nominally determined in USD as they would be paid its direct equivalent in Bitcoin through a payment processor that would deposit their payment in their wallets.
MicroStrategy aggressive Bitcoin investment
Michael Saylor first announced that they had invested in Bitcoin in August 2020. Afterward, he has announced more BTC investments of the firm three other times as they made BTC the firm’s primary reserve currency.
Saylor since then has been a strong crypto advocate and has always been loud about his opinion on Bitcoin. He had earlier predicted that 2021 would be the year when BTC would experience more institutional investors. His prediction has not been flawed as major firms like Tesla, PayPal, Visa, Goldman Sachs have continued to go the way of cryptocurrencies.