Micro strategy for entering Bitcoin’s Lightning Network space
The crypto-verse has lured a number of individuals and entities into the market. While some have been invested throughout, others have been hot and cold towards the industry. However, Microstrategy didn’t seem to have a choice since its executive chairman Michael Saylor was all in on Bitcoin.
Saylor proved his affinity for the asset with consistent purchases and endorsements. Now, further elevating the firm’s presence in the crypto market, it revealed that it was working on solutions that would bring a crowd of people into the Lightning Network [LN].
Appearing on a video call, Saylor noted that the initiative was still in its early stages. He further praised Bitcoin’s Lightning network as he proclaimed it “the most important thing happening in the world in technology.” As a result, Microstrategy has reportedly taken an interest in developing a medium that would allow firms to “roll out Lightning to hundreds of thousands of employees every day.”
Speaking about Microstrategy’s latest initiative, he added,
“MicroStrategy has some R&D projects going on right now where we’re working on enterprise applications for Lightning: Enterprise Lightning Wallet, Enterprise Lightning Servers, Enterprise Authentication.”
In addition to this, the Saylor-led firm intends to pave the way for the release of “Lightning wallets for 10 million customers overnight.”
He further noted that the benefits of LN were not limited to scaling up Bitcoin for billions of people or low-cost transactions. He elaborates on the same so,
“But also the ethos of bitcoin is to tread very carefully and not move quickly on the base layer without universal consensus, but in Lightning you can move much more aggressively develop functionality and take more risks with the applications than you can with underlying bitcoin layers.”
Saylor’s first Bitcoin move after stepping down as CEO
The entire globe is aware of Saylor who has been a prominent Bitcoin bull. Following in the footsteps of former Twitter CEO Jack Dorsey and others, Saylor announced he would step down as CEO of Microstrategy. Saylor had previously stated,
His latest move appears to be in line with his vision as executive chairman of the firm. Although this is just the beginning, the community is speculating that Saylor may come up with more Bitcoin-related initiatives.