In the Ghent district of Dampoort you can buy Bitcoins at a crypto in a beauty salon.

Michael Saylor helped found the American company MicroStrategy 33 years ago, but the former soldier is now taking a step back as CEO. His belief in cryptocurrencies, which earned him the nickname Bitcoin Bull, has been particularly hard on him and his company in recent months. However, he is not going to leave the organization, he is just planning to become even more involved with bitcoin.

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The man, who studied to become an aircraft designer, is firmly convinced that bitcoins will eventually make the US dollar obsolete. “Invest all your money in crypto coins,” has been his advice to anyone who wanted to hear it in recent years, “and never sell them again.” Michael Saylor has about 2.6 million followers on Twitter and the American weekly Forbes estimates his personal wealth at approximately $1 billion.

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MicroStrategy, actually a kind of bitcoin fund, had to take a loss of more than 1 billion dollars in total. The company, which went public in 1998, reported this during the announcement of its last quarterly figures. It is now the seventh quarter in a row that there are red numbers in the books. In particular, the depreciation that the company had to book on the bitcoin portfolio was quite painful. On that investment, the loss was no less than $ 917 million compared to November last year.

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In the Ghent district of Dampoort you can buy Bitcoins at a crypto in a beauty salon.

From $65,000 to $20,000

MicroStrategy itself has paid an average of $30,664 each for its bitcoins. At the end of last year, the crypto was worth more than $ 65,000, at the end of June the price briefly dropped below the $ 20,000 limit and today a bitcoin is sold for about $ 23,000 – no less than 7,000 euros less each than the purchase price of MicroStrategy. .

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Chief Financial Officer Phong Le becomes the new CEO of the company. Michael Saylor will remain Chairman of the Board of Directors and Head of the Investment Committee. In a press release from the company, it sounds that the 57-year-old man can focus more on the strategy around crypto coins in his new position.

As chairman of the board, I can focus more on our strategy to buy Bitcoins and initiatives to promote the cryptocurrency, while Phong Le as CEO will manage the overall business activities. According to insiders, there is a good chance that Saylor will become even more active on social media and will appear more often in podcasts.

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