Black Swan Author Nassim Nicholas Taleb commented on Michael Saylor’s exit MicroStrategy‘s MSTR manager on Tuesday.

What happened: Taleb asked on Twitter how much of the $120,000 Bitcoin holdings MicroStrategy “needs to sell.”

He said developments at the company that included a Impairment of $918 million Charged his bitcoin holdings as “another nail in the coffin for the ‘we’ll never sell’ approach.”

How much of 120K #BTC will they *have to* sell? Another nail in the coffin to the “we will never sell”. https://t.co/cHX8FvC0Ud

— Nassim Nicholas Taleb (@nntaleb) August 2, 2022

See also: Best Crypto Debit Cards

Why It Matters: Michael Saylorwho led MicroStrategy for 33 years dismount and hand over the reins Phong Le, the company’s president. Saylor will transition to become the company’s chief executive officer.

Taleb also apparently commented on the management change, saying that the only thing that matters in a company announcement is “the announcement, not the details.”

If you’ve spent your life in finance, you know that when it comes to a company announcement, it’s the announcement that counts, not the details. They are not transmitted randomly.

— Nassim Nicholas Taleb (@nntaleb) August 2, 2022

MicroStrategy was down 1,176.62% in earnings on Tuesday, losing $92.81 a share versus an estimated loss of $7.27 a share.

The company holds 129,698 BTC worth nearly $2.96 billion, which it acquired for nearly $3.975 billion, according to Bitcoin Treasuries data. According to a previous report, some of MicroStrategy’s Bitcoin purchases were fueled by debt.

Saylor said Tuesday that as chairman, he would be able to “focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while as CEO, Phong would be given the authority to oversee all company operations.”

Price promotion: On Tuesday, MicroStrategy shares closed up 0.9% in the regular session at $278.26. At press time, over 24 hours,…