Saylor steps down as Microstrategy CEO

[passwordnow]

What are your thoughts on this moved?

Not that much, whether there's politics related to his company or there's sort of negativity that the media is bringing about his transition and stepping down. What would matter now is the investors that are still believing in his company while we, we're just speculators and followers every time they're going to purchase. I guess they'll still continue the purchase every time they have a budget in doing so and that's what we like to see from them as they take the news all the time they do it.

[hyudien]

The fact is the company's money is volatile and you will be faced with a bear market or a loss, so liquidity is accompanied by quite a swell of interest. But when bullish response, everything becomes more fantastic. Saylor may be stepping down from the CEO role, but that doesn't mean she's changed her mind. It will stay the same and only change the strategy a bit for the better. Big Saylor Finance and the companies that have educated investing in the Bitcoin realm have taken an unmissable part.

[DaveF]

Or does he want out but knows that since he is the face of the company he has to slowly leave.
According to reports the man still has billions in fiat and a ton of BTC. Did he hit that 'enough' place in his mind and wants to do his own thing.

Although rare it does happen. And, as others have mentioned it could just be time for someone else at the helm.

In the end, both Saylor and Microstrategy will be just fine.

-Dave

[Yaunfitda]

It will have a huge impact if he steps down, sell all your bitcoin holdings, and Saylor disappear from his company, and we can conclude that there are power play and maybe his executives and board of directors are against him and his company purchasing bitcoin.

But if he still is around as still the main executive of the company, then there's nothing wrong in there. He still controls it and probably as what his job description is, focus more on bitcoin acquisition.

[mindrust]

What are your thoughts on this moved?

A sad day for the bitcoin community. I wonder what made him do this. I mean he very well knows that bitcoin is going to make a new ATH in the future, so why step down now? $1b loss is a pocket change for a hedge fund as big as his. And did he close his position? Because if he didn't then he didn't lose anything. 1 btc = 1 btc. A hardcore bitcoin veteran like him should know this.

I can't make sense out of this. Was he... paper hands? Was he full of shit? Maybe he didn't believe in our cause at all. That would be the saddest shit I ve ever heard.

[Lucius]

...
And as Executive Chairman, he will focused himself to what he do best, "Bitcoin acquisition and strategy".
What are your thoughts on this moved?

Nothing dramatic happened as some try to show, and especially nothing bad happened when it comes to Bitcoin. I don't understand why some are commenting that it's a sad day for Bitcoin or anything like that, because Saylor hasn't changed his opinion about it and still remains in his company in a very prominent position.

A title does not make a man, and some people obviously overestimate what is hidden behind the abbreviation CEO.

[franky1]

Or does he want out but knows that since he is the face of the company he has to slowly leave.
According to reports the man still has billions in fiat and a ton of BTC. Did he hit that 'enough' place in his mind and wants to do his own thing.

Although rare it does happen. And, as others have mentioned it could just be time for someone else at the helm.

In the end, both Saylor and Microstrategy will be just fine.

-Dave

he doesnt want out.
its the same as elon musk

elon owns 'boring', solar, tesla, spaceX, and half a dozen other projects..  yet he decides to position himself with whatever professional hobby peaks his interest the most at that moment and puts someone else into the ceo delegation spot to run the other parts.

EG
CEO of elons neuralink is not elon.. its a guy named jared Birchall
CEO of elons starlink is not elon.. its a guy named Dale charles
CEO of elons solarcity is not elon.. its a guy named Lyndon Rive

[AmoreJaz]

...
And as Executive Chairman, he will focused himself to what he do best, "Bitcoin acquisition and strategy".
What are your thoughts on this moved?

Nothing dramatic happened as some try to show, and especially nothing bad happened when it comes to Bitcoin. I don't understand why some are commenting that it's a sad day for Bitcoin or anything like that, because Saylor hasn't changed his opinion about it and still remains in his company in a very prominent position.

A title does not make a man, and some people obviously overestimate what is hidden behind the abbreviation CEO.

well, people want to speculate on things even if there is nothing extraordinary with the movement. doubt if Saylor changes his perspectives towards bitcoin or crypto, but he is not. he maybe want to explore other initiatives that he believes he can do great. people should stop thinking negative things when news like this hits the stand.

[GreatArkansas]

...
And as Executive Chairman, he will focused himself to what he do best, "Bitcoin acquisition and strategy".
What are your thoughts on this moved?

(....)
A title does not make a man, and some people obviously overestimate what is hidden behind the abbreviation CEO.

Yeah, they really planned this very clearly, their company is a huge company, and a lot of people are relying on them even without the involvement of their stocks or Bitcoins.
franky1 is right, his example with Elon is almost the same with Michael Saylor.
Michael Saylor is still in the company, it's just in a different position, their Bitcoins are still there, as Saylor said, he can have more focus on Bitcoin things from their company.

[LittleBitFunny]

What are your thoughts on this moved?

A sad day for the bitcoin community. I wonder what made him do this. I mean he very well knows that bitcoin is going to make a new ATH in the future, so why step down now? $1b loss is a pocket change for a hedge fund as big as his. And did he close his position? Because if he didn't then he didn't lose anything. 1 btc = 1 btc. A hardcore bitcoin veteran like him should know this.

I can't make sense out of this. Was he... paper hands? Was he full of shit? Maybe he didn't believe in our cause at all. That would be the saddest shit I ve ever heard.

He announced his resignation as chief executive officer but remained at the company as executive chairman of the board. He's not giving up on bitcoin, leaving as CEO will give Saylor more time to focus on bitcoin. he has not given up bitcoin yet and the company still holds and has not sold any bitcoins. What are you confusing here?

[bbc.reporter]

I speculate this article might be a signal that the worst for the market is finished already, however, everyone should remain very cautious.

MicroStrategy founder Michael Saylor once lost $6 billion in a day. His big bet on Bitcoin might sink him once and for all

Source https://fortune.com/2022/08/03/michael-saylor-microstrategy-stock-bitcoin-bet-debt-outlook/

Fortune, one year ago:
People who bought Bitcoin in 2016 have made a large return on it

Fortune, now:

His big bet on Bitcoin might sink him once and for all

Fortune, two years from now:

If you bought $30,000 of bitcoin 5 years ago, you would be a millionaire now


Look, the magazines don't actually care about anything except for outdoing their rival publications, that's why they make these kind of headlines that make them sound ridiculous.

This is another one hehehe. I am shaking my head on how clear that this is only another attack by mainstream media or paid for articles to attack Saylor directly and also attack bitcoin indirectly. I speculate that politicians who hate bitcoin can also begin attacking Saylor as a tactic to also attack bitcoin. They can find something bad about Saylor then use coercion and political pressure to make him sell his bitcoins.



Michael Saylor Bet Billions on Bitcoin and Lost

Source https://www.wsj.com/articles/michael-saylor-bet-billions-on-bitcoin-and-lost-11659538890

[buwaytress]

Well, I did say some time ago it was bound to happen. You get a vocal guy representing his company less and less as a tech developer (actually I don't even really know what they do) and more and more as a magic internet money holder. Board was never going to sit still, squirming with every Tweet asking companies to stop buying their own stock and buy more BTC instead.

Personal/business lines do get blurred a lot and this was only appropriate.

[crwth]

As long as he is still part of the team, he will still focus on the part where he will re-evaluate his plan for accumulating more BTC. I think the hype is dying down, and it's just the calm before the storm. It will have more time to recover for sure when time goes by. I don't think it's such a big deal that he will step down as CEO. It will still be heavy on his shoulders if it's not going to work. I hope the team there would still be hopeful with the strategy that they are going for. 

[2stout]

I speculate this article might be a signal that the worst for the market is finished already, however, everyone should remain very cautious.

MicroStrategy founder Michael Saylor once lost $6 billion in a day. His big bet on Bitcoin might sink him once and for all

Source https://fortune.com/2022/08/03/michael-saylor-microstrategy-stock-bitcoin-bet-debt-outlook/

Fortune, one year ago:
People who bought Bitcoin in 2016 have made a large return on it

Fortune, now:

His big bet on Bitcoin might sink him once and for all

Fortune, two years from now:

If you bought $30,000 of bitcoin 5 years ago, you would be a millionaire now


Look, the magazines don't actually care about anything except for outdoing their rival publications, that's why they make these kind of headlines that make them sound ridiculous.

This is another one hehehe. I am shaking my head on how clear that this is only another attack by mainstream media or paid for articles to attack Saylor directly and also attack bitcoin indirectly. I speculate that politicians who hate bitcoin can also begin attacking Saylor as a tactic to also attack bitcoin. They can find something bad about Saylor then use coercion and political pressure to make him sell his bitcoins.



Michael Saylor Bet Billions on Bitcoin and Lost

Source https://www.wsj.com/articles/michael-saylor-bet-billions-on-bitcoin-and-lost-11659538890

Well the Wall Street Journal leans rather conservative in that it tends to favor old money over new money.  But they like a sensational story, whether good or bad, even more.
 They throw shots at Saylor when he is down and will probably big up him and be on the bandwagon in a few years from now if his hands are proven to be diamond.

[bbc.reporter]

Well, I did say some time ago it was bound to happen. You get a vocal guy representing his company less and less as a tech developer (actually I don't even really know what they do) and more and more as a magic internet money holder. Board was never going to sit still, squirming with every Tweet asking companies to stop buying their own stock and buy more BTC instead.

Personal/business lines do get blurred a lot and this was only appropriate.

Agreed. There is nothing wrong in giving investment tips the cryptospace, however, when a CEO of a Fortune 500 company begins becoming the leading circle jerker of a cult and also tells them to refinance their homes to buy bitcoin, this is where it becomes really head shaking. I am not certain why maximalists are very much removed from reality and consider him a genius. Call him a genius after he makes $1 billion in his bitcoin investment not during a loss of $1 billion.

[Dave1]

Here is some update,

https://twitter.com/saylor/status/1554849442884456449

Saylor himself clarifies that his decision to step down as the CEO has nothing to do with the company's bitcoin losses.

And Phong Le has been the President for the past 2 years and so obviously anytime he will be the next CEO.

“I have emerged as an important advocate and spokesperson for the Bitcoin community on a worldwide basis. This will allow me to take the role of executive chairman where I can be a more enthusiastic advocate for Bitcoin while Phong and Andrew manage the corporate operations, execute on the MicroStrategy ongoing business strategy.”

So it's more of him really wanting to be the face for BTC.

[bbc.reporter]

@Dave1. If it really was because of Microstrategy's losses in their bitcoin investment, Michael Saylor would never admit that it might be the cause of his step down from being CEO. I reckon Microstrategy itself as a company would also never want the public to know. It would make them look very stupid.

[The Sceptical Chymist]

A sad day for the bitcoin community. I wonder what made him do this. I mean he very well knows that bitcoin is going to make a new ATH in the future, so why step down now? $1b loss is a pocket change for a hedge fund as big as his.

Wait, what?  MSTR isn't a hedge fund, it's....some kind of software company if I'm not mistaken, one that happened to have a bitcoin zealot as CEO.  I kept writing in the other thread about MSTR that he could very well be booted by the board of directors, and I think that's likely what happened.  Be skeptical about what press releases say, because companies can and do make up all sorts of bullshit when something important like a CEO being removed happens.

This wasn't a voluntary step down, it was a nicely worded smackdown no matter how the company want to spin this.  Pretty sure if he didn't comply, it would have gotten really ugly for him.  Too many internal stakeholder and overall shareholder concerns for him to remain as CEO.

Exactly.  I'm not sure what kind of communication MSTR has with their shareholders, but I bet the big ones--mutual funds, hedge funds, and the like--probably made some noise about all of Saylor's bitcoin purchases.  After all, buying a notoriously volatile asset to hold in place of cash probably wasn't in MSTR's mission statement. 

Wow.  I shouldn't be surprised, but I am (and I didn't even see this thread until just now).

[Wind_FURY]

A sad day for the bitcoin community. I wonder what made him do this. I mean he very well knows that bitcoin is going to make a new ATH in the future, so why step down now? $1b loss is a pocket change for a hedge fund as big as his.

Wait, what?  MSTR isn't a hedge fund, it's....some kind of software company if I'm not mistaken, one that happened to have a bitcoin zealot as CEO.  I kept writing in the other thread about MSTR that he could very well be booted by the board of directors, and I think that's likely what happened.  Be skeptical about what press releases say, because companies can and do make up all sorts of bullshit when something important like a CEO being removed happens.

Microstrategy is a software analytics company. Plus if it was truly a hedge fund, a $1,000,000,000 is NEVER just "a pocket change" for ANY hedge fund.

Michael Saylor will be called many stupid names during the current bear market, just like many of the earliest Bitcoin investors of 2012 were called "crazy" by legacy market investors. BUT, 2025 - 2026 bull market, Chad Saylor will be called the Legendary Genius Investor of the decade.

[Lucius]

Michael Saylor will be called many stupid names during the current bear market, just like many of the earliest Bitcoin investors of 2012 were called "crazy" by legacy market investors. BUT, 2025 - 2026 bull market, Chad Saylor will be called the Legendary Genius Investor of the decade.

People with a slightly different vision from others are often ridiculed and part of the public considers them somewhat irrational, but they certainly understand the game of investing much better than the average investor. When Tim Draper said live on Fox News in 2014 that 1 BTC would be worth at least $10 000 in the next three years, everyone laughed at him afterwards, so it turned out that he was right.

Saylor will no doubt end up being called a genius in a few years, unlike some others who freak out every time the price of Bitcoin goes into the red.