MicroStrategy, the company that’s made a big splash with its bitcoin investments, has added three new members to its board of directors.
One of the new members is Brian Brooks, the former CEO of Binance.US, a big name in the Bitcoin space. This is a sign that MicroStrategy is serious about its position in the digital asset space.
The company, led by Bitcoin enthusiast Michael Saylor, announced the appointments in a recent SEC filing. The new board members—Brian Brooks, Jane Dietze, and Gregg Winiarski—bring Bitcoin-related legal and financial expertise. The board now has nine members, up from six.
Brian Brooks is the biggest of the three. With a background in finance and law, Brooks has held several high profile roles including Acting Comptroller of the Currency in 2021.
As Acting Comptroller he oversaw the US banking system and developed strong connections in the financial industry. He’s also been Chief Legal Officer at Coinbase, and CEO of Bitcoin mining firm Bitfury.
“Brian Brooks is huge,” said senior analyst James Van Straten. Swan Bitcoin, a popular Bitcoin platform, called his appointment a “BIG deal”, noting his deep expertise in the Bitcoin space.
Along with Brooks is Jane Dietze, Chief Investment Officer at Brown University where she manages a $7.2 billion endowment.
Dietze is also a board member at Galaxy Digital, a leading digital asset management firm. “She understands our space and is a thought leader,” said Galaxy Digital founder Mike Novogratz in a past interview.
The third addition is Gregg Winiarski, Chief Legal Officer at Fanatics Holdings, a big sports apparel and collectibles company. Winiarski has decades of legal and corporate governance experience and adds to the board’s expertise in navigating complex regulatory environments.
The new board members will each get a $2 million equity package. This will be split evenly between stock options and Restricted Stock Units (RSUs) that vest over four years.
The timing of these appointments is interesting. MicroStrategy is going to be added to the Nasdaq-100 Index today. Being in the index means the company will be one of the largest by market cap on Nasdaq.
Michael Saylor, co-founder and executive chairman of the company, called it a big deal for the firm’s advocacy of Bitcoin and digital innovation.
MicroStrategy has been in the news for years for its aggressive bitcoin buying. The company now holds over 439,000 BTC purchased at an average price of $61,725 per coin. It’s now often referred to as a bitcoin hedge fund.
Related: $1.5B Purchase Pushes MicroStrategy’s Bitcoin Holdings Past 400k BTC
Despite the ups and downs in bitcoin’s price, MicroStrategy’s plan has worked. In 2024 the company’s stock (MSTR) outperformed bitcoin, up 431% year to date vs 122% for bitcoin. But some are warning about the risks of using debt to fund these purchases.
Michael Saylor addressed those concerns in an interview, saying MicroStrategy will adjust its capital raise strategy.
The company will move from convertible bonds to fixed income securities. He said:
“We would like to go back and build more intelligent leverage for the benefit of our common stock shareholders.”
The addition of Brooks, Dietze and Winiarski means MicroStrategy is building out its leadership as it navigates the fast changing digital asset space. Brooks’ Bitcoin background and regulatory experience will be big for the company.
Brooks was also rumored to be a contender for SEC Chair under the Trump administration but Trump recently nominated pro-Bitcoin advocate Paul Atkins for the role.
