cryptocurrency

Opinion: Is Michael Saylor fair to himself?

Is Michael Saylor moving too fast by stepping down from his role at MicroStrategy?

Michael Saylor is no longer CEO of MicroStrategy

In a recent article, Live Bitcoin News Readers have reported that Michael Saylor – CEO of MicroStrategy – is stepping down as CEO and entering the new role of “CEO”. While no one has listed bitcoin as an official reason, it is interesting to see that the move comes after Saylor put so much into adding bitcoin to his company’s balance sheet.

In the early days, this strategy seemed to work. Bitcoin has been moving through the ranks, and MicroStrategy has basically made it “cool” for institutions to invest in cryptocurrency. We’ve seen many similar companies, such as Square, follow suit and start buying BTC.

However, bitcoin and cryptocurrency are now bearing the toughest bear market we have ever seen. Bitcoin, which traded at a new all-time high of $68,000 per unit last November, has lost more than 60 percent of its total value at the time of writing, and is only struggling to maintain a position within the low $20,000 range.

Altogether, the cryptocurrency industry has lost nearly $2 trillion in valuation in just the past few months, and Michael Saylor has taken some criticism for associating his company — at one time very prominent in the software industry — with what is largely a relatively speculative asset. . His decisions recently led to disaster for MicroStrategy, which is currently down $1 billion on its Bitcoin investments.

The situation looks bleak to say the least. Having mentioned that, is it possible that Saylor is sidestepping his position by walking away from his role as CEO? He’s not leaving the company completely, but could this be an unfair move that he’s imposed on himself?

In defense of Saylor’s actions, bitcoins are unpredictable. Saylor saw a potential investment opportunity that initially worked well for the company. For this reason, one could argue that his financial and business acumen is unparalleled.

At the same time, there were many indications that Bitcoin was likely to lose more before recovering, but instead of taking a breather from his investing patterns, Saylor continued to push MicroStrategy to buy more BTC, which ultimately led to the loss. Recorded at press time. In fact, during the second quarter of this year, when BTC started to show strong signs of struggle, Saylor moved forward with his BTC benchmark patterns.

stated in an interview:

We are still early in the adoption cycle for digital assets and bitcoin in general. It is clear that there is a strong demand around the world for [several] Objects: a digital property that serves as a long-term store of value; A digital commodity to serve as a commercial alternative to energy, minerals, and other physical goods; A digital payments network that is open, neutral, fast and free to use.

Is this for the better?

These words tell us a few things about Saylor, the most important of which is that while he may be proficient in business, he doesn’t seem to know when to quit.

Perhaps someone who is more practical or consistent in their critical thinking processes could be better for the company’s future.

Tags: bitcoin, Michael Saylor, MicroStrategy

#Opinion #Michael #Saylor #fair

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