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MicroStrategy's Saylor steps down as CEO to double down on Bitcoin purchases
MicroStrategy held 129,699 bitcoins - about $2 billion - as of June 30, reflecting accumulated impairment losses of about $2 billion since the acquisition The new CEO praised the growth of the company's cloud technology solutions in a statement that made no mention of Bitcoin Michael Saylor is stepping down from his longtime role as chief executive of MicroStrategy. Saylor is set to become executive chairman of the company, a move that company executives said would allow the outspoken Bitcoin bull to focus more on the company's Bitcoin acquisition strategy. Saylor has been CEO since the company was founded in 1989...
MicroStrategy's Saylor steps down as CEO to double down on Bitcoin purchases
- MicroStrategy hielt zum 30. Juni 129.699 Bitcoins – etwa 2 Milliarden US-Dollar –, was kumulierte Wertminderungsverluste von rund 2 Milliarden US-Dollar seit der Übernahme widerspiegelt
- Der neue CEO lobte das Wachstum der Cloud-Technologielösungen des Unternehmens in einer Erklärung, in der Bitcoin nicht erwähnt wurde
Michael Saylor is stepping down from his long-standing role as chief executive of MicroStrategy.
Saylor is set to become executive chairman of the company, a move that company executives said would allow the outspoken Bitcoin bull to focus more on the company's Bitcoin acquisition strategy.
Saylor has been CEO and chairman of MicroStrategy since the company's founding in 1989. He took it public in 1998. Phong Le, president of the Virginia-based business intelligence company since July 2020, will become CEO of MicroStrategy on August 8.
“I believe that splitting the roles of chairman and CEO will allow us to better pursue our two corporate strategies of acquiring and holding Bitcoin and growing our enterprise analytics software business,” Saylor said in a statement.
Since joining MicroStrategy in 2015, Le has also served as the company's chief financial officer and chief operating officer.
“We continue to see the resilience of our enterprise analytics business and the attractiveness of our cloud platform in our results last quarter,” Le said in a statement. “With total revenue growth on a constant currency basis and 36% annual growth in subscription services revenue, our business remains resilient even in the face of ongoing macroeconomic uncertainties.”
MicroStrategy has the largest Bitcoin (BTC) supply of any publicly traded company. As of June 30, it held 129,699 BTC worth about $2 billion, reflecting cumulative losses of about $2 billion.
As volatility increased in June, MicroStrategy purchased an additional 480 Bitcoin (BTC) for about $10 million - an average price of $20,817 per Bitcoin.
MicroStrategy reported a second-quarter net loss of nearly $1.1 billion, partly due to $918 million in digital asset impairments.
This is a developing story.
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The post “MicroStrategy’s Saylor to Step Down as CEO To Double Down on Buying Bitcoin” is not financial advice.