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Michael Saylor No Longer CEO of MicroStrategy Crypto News

Michael Saylor No Longer CEO of MicroStrategy Crypto News, Crypto Trading News
Of the Bitcoin-Evangelist and billionaire Michael Saylor has resigned as Chief Executive Officer of MicroStrategy – one of the world’s largest corporate owners of Bitcoin. He will continue to serve the company as Chairman of the Board.

  • The news comes as part of MicroStrategy Presentation of the financial results Q2 2022which explains that Phong Le — the company’s president and former CFO — will take over as CEO.
  • This is the first time Saylor has stepped down from his combined roles as chairman and CEO since the company’s inception in 1989.
  • in one expressionSaylor stated that stepping down from his position as CEO will better enable the company to pursue its goals of growing its software business and acquiring more bitcoin.
  • “As Executive Chairman, I can focus more on our Bitcoin acquisition strategy and associated Bitcoin advocacy initiatives, while Phong, as CEO, will be given the authority to oversee all company operations,” Saylor said.
  • Le has served as President since July 2020 and helped execute MicroStrategy’s Bitcoin acquisition strategy. “I look forward to leading the organization for the long-term health and growth of our enterprise software and bitcoin acquisition strategies,” he said.
  • At the beginning of his tenure as CFO in July, Le clarified that MicroStrategy will continue to support its BitcoinHODL-Plan remains committed under his supervision.
  • However, the path was anything but easy. Per his Q2 results, MicroStrategy suffered a $917 million digital asset impairment due to the falling price of Bitcoin. In the second quarter of 2021, the company suffered a $417 million bitcoin impairment.
  • MicroStrategy currently holds 129,699 Bitcoin, according to Saylor’s latest To update on the company’s holdings. These coins were valued at $1.98 billion as of June 30th.

Source: Crypto News Deutsch

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