Michael Saylor to step down as MicroStrategy CEO

MicroStrategy объявили об изменениях в руководстве компании — Майкл Сэйлор станет исполнительным председателем, а должность генерального директора займет Фонг Ле.

Saylor will also remain chairman of the board. It is reported that in his capacity as executive chairman he will focus on “innovation and long-term corporate strategy,” which implies further purchases and retention of bitcoin.

According to Saylor, separating the roles of chairman and CEO will enable more effective execution of the two corporate strategies. While he focuses on the bitcoin initiative, Phong will oversee the company’s overall operations.

They will take up the new roles on August 8.

In addition, MicroStrategy disclosed its second-quarter 2022 financial results.

Total revenue amounted to $122.1 million. At the same time, operating expenses were over $1 billion, up 96.5% from the same period a year earlier.

The main reason was the decline in MicroStrategy’s digital asset prices — the company said that in the second quarter the loss amounted to $917.8 million.

As of June 30, 2022, MicroStrategy held about 129,700 BTC worth nearly $3 billion at the time of writing.

As noted, Michael Saylor is a well-known bitcoin advocate. He calls the first cryptocurrency the most reliable thing in a volatile world and a global reserve asset.

Despite the decline in Bitcoin’s price, Saylor stressed that the company does not plan to liquidate its cryptocurrency reserves and will continue to hodl even in adverse market conditions.

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