MicroStrategy has announced a leadership change with Michael Saylor as Chief Executive and Fong Le as CEO.

Sailor will also remain as chairman of the board. As chief executive, she will reportedly focus on “innovation and long-term corporate strategy,” which includes buying and holding bitcoin.

Saylor says separating the roles of chairman and CEO will allow the two corporate strategies to be executed more efficiently. While dealing with Bitcoin, Fong will manage overall corporate operations.

They will begin their new duties on August 8.

In addition, MicroStrategy announced financial results for the second quarter of 2022.

Total revenue was $122.1 million At the same time, operating expenses exceeded $1 billion, which is 96.5% more than the same period last year.

The main reason for this was the decrease in the price of MicroStrategy digital assets – according to the company, the loss in the second quarter was $ 917.8 million.

As of June 30, 2022, MicroStrategy holds approximately 129,700 BTC, worth about $3 billion at the time of writing.

Recall that Michael Saylor is a well-known bitcoin supporter. He calls the first cryptocurrency the most reliable thing in an unstable world and a global reserve asset.

Despite the drop in Bitcoin price, Saylor emphasized that the company has no plans to liquidate its cryptocurrency reserves and will continue to trade even in bad market conditions.

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