After the news that Michael Saylor officially stepped down as CEO was released, the company’s MSTR stock saw a 12% increase. This is the highest increase in 3 months.
MSTR increased 12%, the highest increase in 3 months
Following the Tuesday announcement that Bitcoin permabull and co-founder of MicroStrategy, Michael Saylor, will be leaving his position as CEO, the software company’s shares began to rally.
MicroStrategy (MSTR) gained roughly 15% on August 3, and 12% on August 4. The company’s share price now trades at $314.09 after setting a new three-month high.
Recording consecutive gains on Wednesday and Thursday, the price of MicroStrategy’s (MSTR) share is $320, the highest level the company’s share price has hit since the first week of May 2022.
Despite leaving as the CEO of MicroStrategy, Michael Saylor will now assume the role of executive chairman of the company. Saylor tweeted on Wednesday, “In my next job, I intend to focus more on bitcoin.”
As mentioned in an article by Coincu News, Michael Saylor is leaving the CEO position and continues to serve the company as Chairman of the Board. With this new role, he will be able to focus more on Bitcoin buying and holding strategies.
As of the end of July 2022, MicroStrategy is holding a total of 129,699 Bitcoins – worth around $2 billion with an average price of $30,664/BTC. MicroStrategy’s holding of Bitcoin led to a $917 million loss in Q2 and is a major contributor to its stock being down over 40% since the start of 2022.
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