MicroStrategy chief revenue officer resigns after nearly seven years there

MicroStrategy, a software intelligence firm that holds bitcoin on its balance sheet, has lost its chief revenue officer Kevin Adkisson.

Adkisson informed the company of his resignation from the position on Wednesday, MicroStrategy said today in a regulatory filing. Adkisson will remain with the company as a non-executive officer employee in an advisory capacity for a transition period that has not yet been determined, MicroStrategy added.

Adkisson worked for MicroStrategy for nearly seven years, according to his LinkedIn profile. It is not immediately clear why he exited. The company did not immediately respond to The Block's request for comment.

Phong Le, MicroStrategy's president and CEO, has assumed Adkisson's responsibilities as head of the company's sales organization and sales function, the company said.

Adkisson's departure comes amid MicroStrategy's renewed purchases of bitcoin. Last month, the company said it bought an additional 12,333 bitcoins for a total of $347 million in cash, bringing its total bitcoin holdings up to around 152,333 bitcoins, worth roughly $4.6 billion at the current bitcoin price of around $30,200.