Michael Saylor has stepped down as CEO of business analytics firm MicroStrategy, but the company will remain Bitcoin acquire and hold (Bitcoin).
In a new one expressionMicrostrategy announces that Saylor will become its new Executive Chairman effective August 8 to focus on innovation and long-term corporate strategy.
The manager retains his role as CEO and head of the investment committee and remains responsible for the company’s Bitcoin acquisition strategy.
Saylor takes his new position as Bitcoin is trading at just a third of its all-time high.
MicroStrategy currently owns 129,699 BTC, which the company bought for an average price of $30,664 per bitcoin. The purchase value of the company’s BTC stash is nearly $4 billion, but with the flagship crypto asset trading for $23,000 at the time of writing, the bitcoin acquisition is now just $2,983,077,000 value.
In its latest financial report, the company states that the impairment charge on digital assets for the second quarter of 2022 is $917.8 million. Even so, MicroStrategy isn’t selling its crypto assets any time soon.
“I believe splitting the roles of Chairman and CEO will allow us to better track both of our corporate strategies of acquiring and holding Bitcoin and growing our business analytics software business. As Executive Chairman, I can focus more on our Bitcoin acquisition strategy and related Bitcoin advocacy initiatives.”
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Source: Crypto News Deutsch