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MicroStrategy Company will use Bitcoin to pay the salary of independent directors.The company holds more than 90,000 Bitcoins

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On April 12, MicroStrategy stated in a document that the remuneration of the company's four independent directors will be based on U.S. dollars and will be converted into equivalent bitcoins during the payment period. This move is MicroStrategy’s endorsement of Bitcoin, which has the ability to serve as a store of value.

The company’s chief executive, Michael Saylor, is one of the most pro-bitcoin business executives, saying any company should have bitcoin on its balance sheet.

CEO of Kenya's largest bank: Cryptocurrency can be used as a supplement to mobile money in Africa, and financial institutions need to talk to regulators: On May 18, James Mwangi, CEO of Equity Bank, Kenya's largest bank, said that if regulators can believe in the benefits of cryptocurrency , cryptocurrencies can complement mobile money in Africa, but essentially, financial institutions need to talk to regulators.

As previously reported, in March the Governor of the Central Bank of Kenya expressed opposition to crypto transactions, saying that financial institutions that support such transactions may lose their licenses. (Bloomberg) [2022/5/18 3:24:39]

Since the low point in March last year, the company's share price has risen 8 times, while Bitcoin has risen 15 times over the same period.

The Monetary Authority of Singapore: There is currently no plan to regulate the NFT field: According to news on February 17, Tharman Shanmugaratnam, Senior Minister in charge of the Monetary Authority of Singapore (MAS), said on Tuesday that there is currently no plan Regulate the NFT field. Even as crypto collectibles become more popular in Southeast Asia, regulators are taking a technology-neutral stance on NFTs. In January of this year, as many as nine companies in Singapore have participated in the business related to encrypted collectibles and Metaverse. (The Block) [2022/2/17 9:58:50]

As of press time, WeStrategy holds a total of 91,579 bitcoins. Based on the calculation of US$60,000 per coin, the market value of the bitcoin held by Westrategy reaches US$5.5 billion, which is close to the company’s market value of US$6.9 billion.

Celsius acquires Israeli cybersecurity company GK8 for $115 million: Golden Finance reported that cryptocurrency lender Celsius Network announced that it is acquiring Israeli cybersecurity company GK8 for $115 million. GK8 was founded by Lior Lamesh and Shahar Shamai, who worked as cybersecurity experts in the Israeli Prime Minister's Office. Celsius and GK8 will now provide banks and financial institutions with an enterprise-grade custody platform, making digital asset services safe from cyber-attacks. [2021/11/3 21:19:50]

As the market value of Bitcoin reaches $1 trillion, volatility has dropped to a level similar to that of stocks, attracting more and more large institutions and rich people to enter the market. In addition to MicroStrategy, companies such as Meitu and Tesla have successively invested in Bitcoin, and large institutions such as Goldman Sachs, Morgan Stanley, and BlackRock have also entered the market.

The application scenarios of Bitcoin are also becoming wider and wider. PayPal, Bank of New York Mellon, Tesla, etc. have successively announced support for Bitcoin payment. Canada has launched two bitcoin ETFs, and the US Securities and Exchange Commission (SEC) is also reviewing related applications. Coinbase, the nation's largest digital currency exchange, will go public on April 14 in what supporters say is a milestone for the cryptocurrency industry.

In the competition with gold, Bitcoin is also in an advantageous position. Bitcoin has risen more than 100% this year, while gold futures prices in New York have fallen 17% since their peak in August last year.

Although investment banks and rich people are flocking to Bitcoin, the sword of regulation is still hanging over Bitcoin. U.S. Treasury Secretary Yellen said that Bitcoin is an "extremely inefficient and highly speculative" asset; European Central Bank President Christine Lagarde also said that she does not think Bitcoin is a real currency, and central banks will not introduce it anytime soon. It is held as a reserve currency.

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MicroStrategy Company will use Bitcoin to pay the salary of independent directors.The company holds more than 90,000 Bitcoins

On April 12, MicroStrategy stated in a document that the remuneration of the company's four independent directors will be based on U.S. dollars and will be converted into equivalent bitcoins during the payment period.

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The article is contributed by Biquan Beiming, the columnist of Jinse Finance and Economics, and his remarks only represent his personal views.

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