Tuesday announces a major change in MicroStrategy, one of bitcoin’s great whales (quote BTC). Michael Saylor took over as CEO and became Executive Chairman and agreed to focus his efforts on the company’s BTC acquisition and retention strategy.
The future scenario
In a webinar presenting operating results for the second quarter of 2022, Saylor, who has been a landmark in the Bitcoin ecosystem, touted the appointment of the company’s chairman and chief executive officer. However, this has been the guideline for running the technology and business intelligence company MicroStrategy for 33 years, the duration of the foundation’s creation.
According to the director, his spheres will now rest mainly on innovation and corporate strategy in the long run. He continues to oversee Bitcoin’s acquisition strategy and serves as chairman of the board’s investment committee.
“I think separating the roles of president and CEO will better pursue our two Bitcoin acquisition and ownership strategies,” said Saylor during the webinar.
As the executive chairman, he will be able to focus more on this aspect and on the initiation of bitcoin promotion, he explained.
Phong Le, who will now serve as the company’s executive chairman, became president in July 2020 and held other leadership roles when he joined MicroStrategy in 2015.
In the normal transit time?
According to Le, the change of management is nothing more than a normal corporate transition that leads us to clarify the roles within the organization with our employees, with our customers / partners and with shareholders.
And I don’t have any significant zambinos planned. The most important change was the arrival, two months ago, of Andrew Kang, who now heads the company’s funding organization. This gives me more time to manage the company and Michael Saylor more time to focus on business strategy Phong Le, the new CEO of MicroStrategy.
In the webinar, Phong Le pointed out that MicroStrategy holds 129,699 bitcoins in its wallet, worth approximately $ 1.988 billion. This represents a cumulative loss in value of $ 1,989 million from the purchase of these assets due to the negative market.
MicroStrategy’s change of leadership took effect on Monday, August 8, 2022 as the company began preparing for the next phase of growth, Saylor said.