MicroStrategy (MSTR) Surges to 3-Month High as Michael Saylor Steps Down as CEO

American mobile software and cloud-based services company MicroStrategy has seen its share price surge to a three-month high.

MicroStrategy Stock Suffers As Michael Saylor Steps Down

American mobile software and cloud-based services company MicroStrategy has seen its share price surge to a three-month high just days after its bullish Bitcoin co-founder Michael Saylor announced his departure as CEO of the company.

MicroStrategy (MSTR) Hit 3-Month High 

On Tuesday, August 2, Michael Saylor, MicroStrategy co-founder, announced that he was stepping down as CEO to become executive chairman. Following the news, MicroStrategy’s shares began to rally.


MicroStrategy (MSTR) traded at $279 on Tuesday. However, the company share price is up by 13% on Thursday, August 4, to trade at $314.09, the highest level the company’s share price has hit since the first week of May 2022. 

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MicroStrategy’s (MSTR) price chart over the last month.

Saylor tweeted on Wednesday, “In my next job, I intend to focus more on Bitcoin.” Phong Le, the president of MicroStrategy, will become the new CEO of the software company.

MicroStrategy Has Outperformed Big Tech Stocks

Saylor, the pro-bitcoin executive of MicroStrategy, has not been silent about his company’s involvement with Bitcoin.


According to Saylor, Microstrategy (MSTR) has “outperformed every asset class and big tech stock” since the company adopted a bitcoin strategy and started accumulating the asset.

He tweeted;

On the Flipside

  • 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.

Why You Should Care

Despite the organizational change, Saylor and Le have told investors not to expect any surprise in strategy, and the company remains bullish on Bitcoin.

Get more info about Saylor’s resignation in:

Michael Saylor Steps Down as CEO of MicroStrategy to Focus on Bitcoin Strategy

Read the article below to find out how people reacted to his resignation:

Crypto World Reacts to Michael Saylor’s Resignation

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia