Federal Contractors | Technology 2023: PHONG LE

PRESIDENT AND CEO, MICROSTRATEGY, TYSONS

Published August 30, 2023 by Virginia Business

Le took the reins of MicroStrategy in August 2022 after its high-profile former CEO, Michael Saylor, stepped back to focus on cryptocurrency bitcoin. Founder Saylor, who continues as the independently owned company’s executive chairman, is still doubling down on bitcoin, as is MicroStrategy, which purchased about $347 million worth of bitcoin from April 29 to June 27. The company’s bitcoin holdings were valued at about $4.7 billion as of late June.

However, bitcoin’s fluctuating fortune has caused some heartburn for investors, as it swung from a peak of $68,000 in November 2021 to less than $16,000 in mid-2022. Under Saylor, MicroStrategy became the largest corporate bitcoin owner, but in August 2022, he stepped down as CEO following a $1.98 billion drop in the worth of the company’s bitcoin holdings.

Le, who joined MicroStrategy in 2015, served as its chief financial officer and chief operating officer and other executive posts before becoming president and CEO. A graduate of Johns Hopkins University and MIT’s Sloan School of Management, Le was CFO for XO Communications, a private telecommunications company. He also held senior positions at NII Holdings, a publicly held telecommunications company. Before that, he spent 12 years at Deloitte.

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