VRB News
Virtual Reality Brisbane
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
No Result
View All Result
Home IT news

Michael Saylor Gives Up CEO Position to “Focus More on Bitcoin”

admin by admin
August 5, 2022
in IT news
0
Michael Saylor gibt CEO-Position auf, um sich “mehr auf Bitcoin zu konzentrieren”
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

MicroStrategy co-founder Michael Saylor resigned from his position as chief executive after announcing a $1 billion loss on the company’s Bitcoin holdings.

Michael Saylor will assume the newly created position of Executive Chairman and will continue to serve as Chairman of the Board. So far, I have focused primarily on innovation and on the long-term corporate strategy of the company. The 57-year-old will continue to manage the company’s Bitcoin acquisition strategy as head of the board’s Investment Committee.

”MicroStrategy’s original strategy and advisory business needs full attention,” said Henry Elder, head of decentralized finance at Wave Financial. “Now Michael can focus on what he does best, which is to promote Bitcoin. The company can focus on making more money to buy more Bitcoin. This allows both the company and Saylor to pursue their vocation even better.”

Phong Le, the PRESIDENT of MicroStrategy, will assume the new role of chief Executive. Le has been part of the company since 2015 and previously served as Chief Financial Officer and Chief Operating Officer.

Michael Saylor, who co-founded the Virginia-based company in 1989, commented on the role change in a press release:

“I believe that sharing the roles of Chairman and CEO will enable us to better realize our two corporate strategies, the acquisition and holding of Bitcoin and the growth of our enterprise analytics software business. As Executive Chairman, I will be able to focus more on our Bitcoin acquisition strategy and related Bitcoin promotion initiatives, while Phong, as CEO, will lead the entire corporate business.”

MicroStrategy Loses $1 Billion in Bitcoin

The change in management came after MicroStrategy announced its financial results for the second quarter of this financial year (the three-month period ending June 30). Since the Bitcoin price declined sharply over the same period, the company’s Bitcoin holdings also lost a lot of value. The company currently owns 129,699 BTC, the book value of which fell to 1.988 billion US dollars in the last quarter. The average price at which MicroStrategy bought the Bitcoin is just over $30,000.

Thus, according to the data of financial results, MicroStrategy’s losses in the last quarter amounted to $ 917.8 million.

Bitcoin: A picture of BeInCrypto.com

At $122.1 million, earnings were just below analysts’ expectations ($123.25 million). The loss of $299.3 million recorded in the prior-year quarter represents only a fraction of the net quarterly loss of $1.062 billion. This is almost exactly twice as large as the turnover of the company in the last 12 months.

Despite the current crypto bear market, MicroStrategy is ready to continue investing in BTC. For example, the company last bought 480 BTC at the $ 20,000 mark at the end of June 2022 for about $ 10 million.

Previous Post

In this case, speed camera apps are legal

Next Post

Inflation punishes the forward-looking, and Bitcoin gives hope for the future

admin

admin

Related Posts

When is the HOT SALE 2023 in Mexico?
IT news

When is the HOT SALE 2023 in Mexico?

January 31, 2023
Dedicated Servers
IT news

The advantages of dedicated servers: cost, performance, security

January 27, 2023
Different types of proxies and their benefits for online security
IT news

Different types of proxies and their benefits for online security

January 27, 2023
Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…
IT news

Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…

January 25, 2023
helpchildreninukraine
IT news

Need for reform in juvenile justice legislation in Ukraine

January 25, 2023
Next Post
Inflation punishes the forward-looking, and Bitcoin gives hope for the future

Inflation punishes the forward-looking, and Bitcoin gives hope for the future

Premium Content

Red Dead Redemption 2 could reach PC with Rift support

Red Dead Redemption 2 could reach PC with Rift support

December 11, 2021
LG prepares a new improved SteamVR prototype Submitted by the community

LG prepares a new improved SteamVR prototype Submitted by the community

March 31, 2022
Russian students and teachers to “recognize in person” will not be

To use completely: the series “Game of thrones” as a marketing tool

June 26, 2020

Browse by Category

  • Games
  • IT news
  • Tech
  • World

VRB News is ready to cooperate with webmasters and content creators. Send an email to info@virtualrealitybrisbane.com

Categories

  • Games
  • IT news
  • Tech
  • World

Recent Posts

  • When is the HOT SALE 2023 in Mexico?
  • The advantages of dedicated servers: cost, performance, security
  • Different types of proxies and their benefits for online security

© 2021 - The project has been developed ServReality

No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact

© 2021 - The project has been developed ServReality

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?