MicroStrategy’s Michael Saylor Gives Away Bitcoin: Details

Michael Saylor, founder of MicroStrategy who stepped down as the company’s CEO in August to focus on his further Bitcoin strategy and acquisitions, has engaged in a debate with Swedish researcher and current CIO of the Arcane Assets fund Eric Wall regarding Bitcoin Lightning Network.

As part of that, Saylor decided to give away some Bitcoin.

Three million Satoshi giveaway

Eric Wall created a public poll on his Twitter page to pick the brains of his followers to see if they believe the former head of MicroStrategy has ever made more than three transactions with the Bitcoin Lightning Network.

Saylor answered “yes” to that and promised to make “three more transactions”, each with 1,000,000 Satoshis, to three people who post memes about the Lightning Network in the comments of the tweet and get the most likes.

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The correct answer is Yes and I will make three more transactions of 1,000,000 rate each to the 3 most liked posters #Lightning⚡️ memes in the comments section below.

— Michael Saylor⚡️ (@saylor) 4 October 2022

This trolling of Saylor by Arcane Asset’s CIO apparently began after Saylor announced that MicroStrategy had begun developing its own SaaS (software as a service) based on the Bitcoin Lightning Network to provide businesses with solutions to enable new e-commerce uses.

In the comments thread, Wall continued to make fun of Saylor, launching a Twitter poll suggesting that the aforementioned post about the BTC gift was published by Saylor’s assistant.

Saylor is stepping down as CEO, but the focus remains on Bitcoin

Although Saylor stepped down as CEO, he remains with the company as executive chairman. The position of CEO has been transferred to Phong Le, who has been the company’s president since 2020.

Michael Saylor will now focus more on the firm’s Bitcoin acquisition strategies and products based on the flagship cryptocurrency and, as we see from the aforementioned debate, on the Bitcoin Lightning Network.

Currently, MicroStrategy has approximately 130,000 Bitcoins – it has been buying BTC since August 2020 – and is the company with the largest amount of BTC on its balance sheet. This sum of BTC is worth approximately $3.9 billion at the time of writing.