On August 8th an era will end. Michael Saylor, the longtime CEO and founder of MicroStrategy, will step down from his position at the helm of the business intelligence company. The news made waves in crypto space. To Yahoo Finance broke the 57-year-old now his silence.
“It was my decision,” Saylor clarified at the beginning of the conversation. Previously, the rumor mill was raging that the American had to leave due to the company’s Bitcoin strategy. MicroStrategy has repeatedly attracted attention in the past with the purchase of the cryptocurrency. It currently holds just under 130,000 BTC at an average purchase price of $24,212. In the current market environment, however, the investment turns out to be a negative business.
With the resignation, critics saw themselves confirmed. Some even predicted the end of Bitcoin-friendly corporate policies. So designated For example, former options trader and author of The Black Swan, Nassim Taleb, used the move as a “nail in the coffin” for MicroStrategy’s Bitcoin strategy. However, Saylor expressly contradicted this in an interview with Yahoo Finance.
I remain the main shareholder of the company and chairman of the supervisory board. I also continue to chair the investment committee that oversees our Bitcoin acquisition strategy.
Saylor wants to focus on Bitcoin
So a clear rejection of the critics. Phong Le, who previously worked as CFO at MicroStrategy, will take over as CEO. Saylor himself will also remain with the company. When asked if there would be any changes to the Bitcoin strategy, the founder of MicroStrategy said:
No not at all. Our goal was and still is. Acquiring as much bitcoin as possible… The strategy is a success so far.
In his new role, Saylor wants to focus entirely on strategy.
The extent to which he can count on the support of the remaining shareholders remains questionable. Due to the strong BTC slump in recent months, the software company disappointed in its current quarterly report. Overall, MicroStrategy saw revenue decline 2.6 percent to a total of $122.1 million.
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