Saturday, May 31, 2025

Latest

Michael Saylor Steps Down as CEO of MicroStrategy

This afternoon after the bell Michael Saylor officially stepped down from his role as the CEO of MicroStrategy (NASDAQ: MSTR) . He will take on the role of executive chairman.

Phong Le, MicroStrategy’s current president, will take Saylor’s place as CEO. In the company news release he said, “I look forward to leading the organization for the long-term health and growth of our enterprise software and bitcoin acquisition strategies.”

In August 2020, Saylor began purchasing Bitcoin for the company’s treasury, which later became so integral to the company’s overall strategy that Microstrategy effectively became a holding vehicle for Bitcoin. In September of 2021, he explained to Cassandra Leah of the Daily Dive, “A year ago, we had a $500 million business, growing about 0% per year, and a $500 million balance sheet paying 0% interest [has now become] a $5 billion balance sheet growing much faster.”

Saylor’s departure was announced during the company’s second-quarter earnings release, which showed a loss of $1.06B, including an impairment charge of $917M based on the value of the Bitcoin on the company’s balance sheet, which has plunged since the price peaked in November last year.

Of course, the Saylorcritics have gone to Twitter as expected.

Microstrategy last traded at $278.26 on the NASDAQ.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

MicroStrategy Drops $190.5 Million Acquiring 4,167 Bitcoin

MicroStrategy Inc (NASDAQ: MSTR) continues to buy up bitcoin, and it appears that their rate...

Tuesday, April 5, 2022, 08:37:37 AM

Hindenburg Research Takes Aim At Tether, Offers $1.0 Million Bounty For Key Information

Either go big, or go home. Notorious short sellers Hindenburg Research this evening took aim...

Tuesday, October 19, 2021, 05:30:53 PM

Binance Locked Out Of Key United Kingdom Payments System

The hits just keep coming for Binance. Days after the company has seen itself locked...

Monday, June 28, 2021, 03:08:18 PM

Terra Blockchain Goes on Bitcoin Buying Spree to Diversify Reserves

The price of bitcoin is finally showing signs of a rebound, rising above $45,000 for...

Tuesday, April 5, 2022, 10:05:00 AM

Strategy To Take $5.9 Billion Loss On Bitcoin Holdings In Q1

Michael Saylor’s Strategy (NASDAQ: MSTR) is beginning to feel the pinch of falling bitcoin prices....

Monday, April 7, 2025, 10:12:48 AM