Business intelligence firm MicroStrategy announced on Sunday that the board will receive their dividends in Bitcoin (BTC) instead of cash.
According to the 8-K application form to the US Securities and Exchange Commission, MicroStrategy has decided to give its dividends to the board in Bitcoin instead of cash. It is stated in the application document as follows:
“Non-employee board members will get their services in the company in Bitcoin instead of cash.”
MicroStrategy has been investing in Bitcoin since mid-2020 with its strategy of average cost of dollars. The value of the company’s BTC deposits currently exceeds $ 4 billion.
In its application document, MicroStrategy explained that it believes Bitcoin can function as a reliable store of value.
“While the board approves the payment of dividends with Bitcoin, they announced their loyalty to Bitcoin because cryptocurrency can act as a store of value, is supported by a strong and open source structure, and is not bound by countries’ monetary policies.
In the new system, there will be no change in the dollar amount of the dividends paid to the board of directors. The dollar value of dividends payable will be converted into Bitcoin and sent to board members’ wallets when the payment is due.