Bitcoin supporter and billionaire who is known for its positive and motivating Twitter posts for Bitcoin holders, Michael Saylor, has stepped down as the Chief Executive Officer of MicroStrategy. Moreover, from August 8, 2022, Saylor will assume the role of Executive Chairman of the board of Directors.
Notably, the president of the company, Phong Le, will serve as the new CEO and as a member of the board, as per the recent press release.
Saylor has served as CEO and Chairman of the Board of Directors since MicroStrategy was founded in 1989. Under his leadership, the company reached new heights by becoming a global leader in business intelligence. It has served the largest number of reputable companies and government agencies in the world. MicroStrategy has also been a technology and advancements pioneer in the relational, web, mobile, and cloud analytics fields.
Saylor will oversee MicroStrategy’s BTC acquisition strategy
In the past two years, MicroStrategy has been getting popular for major Bitcoin shopping and is the world’s biggest corporate holder of Bitcoin. It is the first publicly traded company to adopt Bitcoin as its primary treasury reserve asset. According to Saylor’s most recent update on the company’s holdings, MicroStrategy currently holds 129,699 Bitcoin. As of June 30, the market value of these coins was $1.98 billion.
Saylor, who believes that BTC ETFs will replace Gold ETFs in the near future, will continue to oversee the company’s BTC purchase plan along with focusing on innovation and long-term corporate strategy. Commenting on the changes in the leadership positions, Saylor said :
“I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business.”
He added that Le will focus on managing overall corporate operations while he will focus more on the company’s “Bitcoin acquisition strategy and related Bitcoin advocacy initiatives.”