CRYPTO NEWS

Bitcoin Maximalism: Michael Saylor, MicroStrategy’s CEO, Quits to Focus on BTC

Michael Saylor, an American businessman, and entrepreneur who is one of the most well-known supporters of Bitcoin in corporate America, resigned as CEO of MicroStrategy (MSTR). They assumed the additional role of executive chairman. This action was taken to allow him to focus more on the company’s Bitcoin investment strategy. He started the company in 1,989 as a developer, but in recent years he has used MicroStrategy funds to buy bitcoin for billions of dollars.

According to a statement released, Phong Le, the former company president, has been named the new CEO. As per Saylor’s keywords, I believe that leaving the CEO position would help us better achieve our two corporate goals: 

  • Purchasing and holding Bitcoin 
  • Expanding business analytics software company

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Michael Saylor is Now the Chairman of MicroStrategy

According to MicroStrategy Inc., a US company that provides business information, mobile applications, and cloud-based services to its clients, former CEO M.Saylor will now serve as the company’s chairman. M.Saylor, 57, is one of the industry’s most well-known Bitcoin supporters. He had been CEO of MicroStrategy since its inception in 1,989 but resigned to devote more time to purchasing more bitcoin for the company.

Phong Le, the company’s new CEO, does not anticipate any upcoming strategy changes and has demonstrated a willingness to remain in agreement with former CEO Michael Saylor on enterprise and bitcoin strategy throughout their time together. However, Michael Saylor is stepping down as CEO at a time when the company has suffered significant losses as a result of his bitcoin investments.

MicroStrategy Produced $122.1 Million in Total Sales

According to MicroStrategy’s second-quarter financial report, the company produced $122.1 million in total sales, a 3% drop year on year (YoY) or a 2% gain in constant currency terms. MicroStrategy also declared a $917.8 million impairment charge on its bitcoin (BTC) assets.

For the uninitiated, MicroStrategy jumped on the bitcoin bandwagon in August 2020, when the business announced the purchase of 21,454 BTC worth $250 million. The company has not looked back since, rapidly transforming into what Saylor refers to as a “nonexistent spot (Bitcoin) ETF.”

MicroStrategy’s most recent bitcoin acquisition occurred on June 6, 2022, when the 33-year-old software company purchased bitcoin (BTC) with a $2.4 billion loan investment, bringing its total BTC stockpile to over 129k. In its second-quarter results, also released on Tuesday, MicroStrategy reported a $917.8 million impairment charge on its Bitcoin assets. Over $4 billion was spent on their purchase, and the corporation now has approximately 130,000 bitcoin worth approximately $3 billion.

Bitcoin Maximalism

According to MicroStrategy’s second-quarter financial report, the company produced $122.1 million in total sales, a 3% drop year on year (YoY) or a 2% gain in constant currency terms. MicroStrategy also declared a $917.8 million impairment charge on its bitcoin (BTC) assets.

For the uninitiated, MicroStrategy jumped on the bitcoin bandwagon in August 2020, when the business announced the purchase of 21,454 BTC worth $250 million. The company has not looked back since, rapidly transforming into what Saylor refers to as a “nonexistent spot Bitcoin ETF.”

MicroStrategy’s most recent bitcoin acquisition occurred on June 6, 2022, when the 33-year-old software company purchased bitcoin (BTC) with a $2.4 billion loan investment, bringing its total BTC stockpile to over 129k.

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Zcash Price Prediction: ZEC Gathers Catalysts to Surge Higher

Zcash (ZEC) Price Prediction – August 7Over time, it has now been that the Zcash market gathers catalysts to surge higher, trading against the worth of the US Dollar. Crypto has had an all-time high of $5,941.80 in the last six years ago and an all-time low of $18.94 about two years ago on its::Listen

Zcash (ZEC) Price Prediction – August 7
Over time, it has now been that the Zcash market gathers catalysts to surge higher, trading against the worth of the US Dollar. Crypto has had an all-time high of $5,941.80 in the last six years ago and an all-time low of $18.94 about two years ago on its financial book of record. As of writing, the price trades around $71 at an average percentage rate of 5.11 positives.

Zcash (ZEC) Price Statistics:
ZEC price now – $71.02
ZEC market cap -$1.1 billion
ZEC circulating supply – 15 million
ZEC total supply – 15 million
Coinmarketcap ranking – #51

ZEC/USD Market
Key Levels:
Resistance levels: $80, $90, $100
Support levels: $60, $50, $40
ZEC/USD – Daily Chart
The daily chart reveals the crypto market gathers catalysts to surge higher. The horizontal line drew at the $50 support level, marking the bottoming area where variant candlesticks had had a sit to form a baseline from which price has swung northward. The 14-day SMA trend line is at $63.367512 below the value line of the 50-day SMA trend line, which is at $80.205229. The Stochastic Oscillators are in the overbought region, pointing to the upside direction to denote the market is in progressive forces.

Will the ZEC/USD market push further to touch the 50-day SMA at an $80.205229 resistance point?

If the ZEC/USD market bulls build firmly upon the current trending force to the upside, the price may systemically extend to the point of the 50-day SMA at $80.205229 resistance as the gathers catalysts to surge higher. As it is, it may be a good time for long-term investors to start looking in the direction of this trade by joining or increasing their portfolio size. Traders are warned not to over-leverage their accounts.

On the downside of the technical, the ZEC/USD market bears have to be patient until a bearish candlestick emerges at a higher-resistance trading spot before re-considering a launching of sell order afterward. Short-position takers may have to wait for convergence of price actions around the trend line of the 50-day SMA to observe what the market may eventually be doing toward a particular direction for traders to follow up immediately.

ZEC/BTC Price Analysis

Zcash’s trending capacity compared with Bitcoin has been striving to push northward against the trend lines of the SMAs. The cryptocurrency pair price gathers catalysts to surge higher through resistance around the bigger SMA. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region, somewhat trying to close the lines. That portends the base crypto may soon be relaxing in its efforts to push further against its flagship counter=trading crypto.

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Bitcoin Maximalism: Michael Saylor, MicroStrategy’s CEO, Quits to Focus on BTC

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