‘Black Swan’ Author Scoffs at MicroStrategy’s Bitcoin Stance After CEO…

‘Black Swan’ Author Scoffs at MicroStrategy’s Bitcoin Stance After CEO…

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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.”

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.”

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,…



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