BREAKING: Michael Saylor is no longer CEO of MicroStrategy — he's taking up a new role to focus on the company's Bitcoin investments 🚨
Saylor has served as CEO since 1989, and he'll be replaced in this position by Phong Le, who is currently MicroStrategy's president.
Explaining the rationale behind the changes, MicroStrategy said Saylor "will focus primarily on innovation and long-term corporate strategy, while continuing to provide oversight of the company's Bitcoin acquisition strategy as head of the board's investment committee." MicroStrategy first invested in Bitcoin two years ago — and in recent years, it's fair to say that Saylor's been more focused on championing crypto than his own company's products. In a statement, he added:
"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.
The move could be interpreted as a vote of confidence in MicroStrategy's aggressive strategy to acquire as much Bitcoin as possible — despite the fact that the value of the 130,000 BTC it holds in reserve has fallen by about $5 billion in eight months.
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