From CEO To Chairman: MicroStrategy’s Michael Saylor To Focus On Bitcoin

From CEO To Chairman: MicroStrategy’s Michael Saylor To Focus On Bitcoin
Cryptocurrency News
Like? Do Rank It! Likes

Michael Saylor, who was serving as the CEO of business intelligence company MicroStrategy, has shifted to the role of Chairman. 

Saylor To Act As Chairman

After over 30 years of serving as the CEO of MicroStrategy, Michael Saylor has finally shifted gears. Saylor has stepped down as CEO and taken on the role of Chairman to focus on the company’s strategy and Bitcoin efforts. However, he will still hold on to his positions of Chairman of the Board of Directors and an executive officer of the company. 

Michael Saylor has addressed the change in roles in a press statement released on August 2, saying, 

“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. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations.” 

Saylor’s Leadership Across Decades

With the price of Bitcoin plummeting, the company has lost a billion dollars in the crypto. However, despite the loss in value, Saylor has always remained optimistic about the future potential of BTC and has maintained that the company still plans on buying and hodling the crypto. Under his leadership, MicroStrategy has achieved many milestones over the years. Saylor also led the firm to become the first publicly traded company to adopt Bitcoin as its primary treasury reserve asset. In his new role as Executive Chairman, Saylor will be focusing on innovation and long-term corporate strategy. Additionally, he will also act as the head of the Board’s Investments Committee to lead the firm’s Bitcoin acquisition strategy. 

President Takes Over As CEO

Taking over from Saylor as the company’s new Chief Executive Officer will be MicroStrategy President Phong Le, who will also be serving on the Board of Directors. As President and CEO of MicroStrategy, Mr. Le will be entrusted with implementing corporate strategies, overseeing day-to-day operations, and leading all business efforts. Addressing his new role in the company, Mr. Le said,

“I’m honored and excited to continue leading this truly innovative organization, as President & CEO. Our people and our brand carry incredible momentum. I would like to reinforce our commitment to our customers, shareholders, partners and employees, and I look forward to leading the organization for the long-term health and growth of our enterprise software and bitcoin acquisition strategies.” 

Crypto Daily - Crypto And Financial News 11/08/2022 Ripple Buying Celsius?
japan eu eth/usd
5 hours ago

In Todays Headline TV CryptoDaily News: BitPay partners Cardlytics for cash back rewards. BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, added a reward program to its BitPay Prepaid Card. Cardlytics, a cash-back rewards platform, is managing the rewards where the BitPay cardholder automatically receives cash back on purchases. Hackers have stolen $1.4 billion this year using crypto bridges. Crypto bridges, which link blockchain networks together, have become major targets for cybercriminals. A total of around $1.4 billion has been lost to breaches on cross-chain bridges this year, according to figures from blockchain analytics firm Chainalysis. Ripple Labs 'interested' in bankrupt crypto lender Celsius' assets. San Francisco-based blockchain payments company Ripple Labs Inc is interested in potentially purchasing assets of bankrupt crypto lender Celsius Network, according to a company spokesperson. BTC/USD exploded 2.9% in the last session. The Bitcoin-Dollar pair exploded 2.9% in the last session. The Stochastic indicator is giving a negative signal. Support is at 22289.6667 and resistance at 24337.6667. The Stochastic indicator is giving a negative signal. ETH/USD skyrocketed 7.5% in the last session. The Ethereum-Dollar pair skyrocketed 7.5% in the last session. According to the CCI, we are in an overbought market. Support is at 1599.2733 and resistance at 1841.3733. The CCI points to an overbought market. XRP/USD skyrocketed 2.6% in the last session. The Ripple-Dollar pair skyrocketed 2.6% in the last session. The MACD is giving a negative signal. Support is at 0.3499 and resistance at 0.3887. The MACD is currently in negative territory. LTC/USD skyrocketed 4.3% in the last session. The Litecoin-Dollar pair gained 4.3% in the last session after rising as much as 5.2% during the session. The Stochastic-RSI is giving a negative signal. Support is at 55.5833 and resistance at 64.6433. The Stochastic-RSI is currently in negative territory. Daily Economic Calendar: IE Consumer Price Index The Consumer Price Index is a measure of price movements made by comparing the retail prices of a representative shopping basket of goods and services. The Irish Consumer Price Index will be released at 10:00 GMT, Japan's Foreign Investment in Japan Stocks at 23:50 GMT, the US Continuing Jobless Claims at 12:30 GMT. JP Foreign Investment in Japanese Stocks Securities investment referrers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency. US Continuing Jobless Claims The Counting Jobless Claims measure the number of individuals who are unemployed and are currently receiving unemployment benefits. JP Foreign Bond Investment The Foreign Bond Investment refers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency. Japan's Foreign Bond Investment will be released at 23:50 GMT, the US Initial Jobless Claims at 12:30 GMT, the Irish HICP at 10:00 GMT. US Initial Jobless Claims The Initial Jobless Claims is a measure of the number of people filing first-time claims for state unemployment insurance. IE HICP The HICP is a measure of price movements or inflation harmonized across EU Member States. It is similar to the national Consumer Price Indices (CPI). Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

BlackRock announces the launch of a new private spot Bitcoin trust
18 hours ago

The move comes one week after its partnership with Coinbase to provide institutional clients with crypto trading access.