Microstrategy is focusing its efforts on providing a solution for scaling Bitcoin through Lightning Network technology this year. The CEO, Michael Saylor, announced that the company is working on a product aimed at providing a Bitcoin wallet and Lightning Network address for every holder of a commercial account within the company.
The main goal of this move is to enable rapid and easy development and implementation of Bitcoin reward applications for employees, customers, potential clients, and partners. The Lightning Network is a secondary layer for the Bitcoin payment protocol that relies on the blockchain, enabling transactions to be conducted off-chain, increasing transaction capacity and reducing transfer fees.
Reports indicate that Lightning Network adoption is accelerating in emerging markets such as South America and Africa and can be attributed to the efforts of Bitcoin payment company Strike and wallet provider. Last December, Saylor announced that Microstrategy was exploring software and solutions utilizing the Lightning Network, including solutions that support commercial marketing and website security.
58-year-old billionaire Michael Saylor also announced the integration of the Lightning Network for Bitcoin into the company’s email address in April of this year. This means that anyone can send Bitcoin to Saylor using his email address as an identifier.
In addition to the focus on the Lightning Network, Microstrategy continued to purchase Bitcoin, making it the largest corporate holder of the digital currency. According to data collected through “Bitcoin Treasuries,” Microstrategy currently owns 140,000 Bitcoin and has been acquiring more coins over the past 11 quarters.
Microstrategy’s efforts to utilize Lightning Network technology for Bitcoin expansion indicate its vision for the future and commitment to promoting the adoption of digital currencies and their uses in the business world. By providing a Bitcoin wallet and Lightning Network address to holders of commercial accounts, the company enables the easy and fast development of Bitcoin reward applications, allowing for the widespread adoption of Bitcoin in emerging markets and supporting fast and efficient financial transactions. As the largest corporate holder of Bitcoin, Microstrategy continues to support the use of the digital currency and enhance confidence in it among companies and investors.