By Hassan Mehmood (Saudi Arabia)
In the hot pursuit of cryptocurrency and, more dimensionally, Bitcoin, the American financial firms and IT landscapes have been trying their best to get their hand on the digital asset since the price surge has kind of stuck with it. But there is always a pioneer there at first who gets the ball rolling; in the case of digital currency adoption, MicroStrategy provided to be the pillar and was the first institution to adopt or invest into Bitcoin but not anymore as hundreds of other financial systems have joined the cause ever since.
According to CEO Michael Saylor’s recent tweet, the board of directors at MicroStrategy will be paid in cryptocurrency none other than Bitcoin. This is something huge as adopting Bitcoin is one thing but using the digital asset for the sake of paying your directors or staff is another thing. But for the sake of keeping up with the pioneer reputation that MicroStrategy has, it took the initiative one more time and started paying its board of directors in Bitcoin. After this, you can expect to see other financial or IT enterprises doing the same because, as told earlier, there is always someone who is first.
Why it had to be Bitcoin?
All consideration aside, it was done for the sake of making the SEC realize that Bitcoin, despite all its volatility, can still be used as more than an investing medium and that it is safe to conduct business or pay others for their service in Bitcoin. This is a kind of digital asset that is not attached to any kind of monetary policy, and the decentralized approach having no strings attached to it is the ultimate future of fiat money. Furthermore, it elaborates on the importance of the Blockchain systems and why there is a need to adopt both cryptocurrencies and Blockchain systems with open arms.
There are a total of 5 board members on the MicroStrategy board of members, and all of them will be paid for their extensive services in the form of Bitcoin. It might tip the scales a little in favour of Bitcoin or cryptocurrencies, to be general, but nothing can be said for sure.
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