MicroStrategy announced changes in the company's management - Michael Saylor will become executivechairman, and the position of general director will be taken by Phong Le.
Saylor will also remain chairman of the board of directors.It is reported that as executive chairman, he will focus on “innovation and long-term corporate strategy,” which includes the continued purchase and holding of Bitcoin.
According to Saylor, the division of chairman rolesand SEO will enable more efficient implementation of two corporate strategies. While he will handle bitcoin, Fong will manage the overall corporate operations.
They will begin their new positions on August 8.
In addition, MicroStrategy disclosed financial results for the second quarter of 2022.
Total revenue amounted to $122.1 million. At the same time, operating expenses — more than $1 billion, which is 96.5% more than the same period last year.
The main reason was the fall in the price of MicroStrategy digital assets - according to the company, in the second quarter, the loss amounted to $917.8 million.
As of June 30, 2022, MicroStrategy owns approximately 129,700 BTC, worth almost $3 billion at the time of writing.
Recall that Michael Saylor is a well-known supporter of bitcoin. He calls the first cryptocurrency the most reliable thing in an unstable world and a global reserve asset.
Despite the fall in the price of bitcoin, Saylor stressed that the company has no plans to liquidate its cryptocurrency reserves and will continue to trade even under poor market conditions.
Read ForkLog bitcoin news in our Telegram - cryptocurrency news, courses and analytics.
Read this:
Michael Saylor: MicroStrategy will continue to hod bitcoin even under bad market conditions
Michael Saylor continues to support Bitcoin
Michael Saylor: Bitcoin is the most reliable thing in an unstable world
Michael Saylor allowed the instability of Ethereum in the next three years
Michael Saylor vows to continue buying bitcoin
Michael Saylor: "Bitcoin will never hit zero"