MicroStrategy intends to commence projects on Bitcoin services

Updated: 05 September 2022

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Michael Saylor wants MicroStrategy’s non-crypto section to work on Bitcoin services. The executive chairman of MicroStrategy made this revelation during his speech delivery at Baltic Honeybadger. Saylor disclosed that MicroStrategy is working on a solution to usher the exodus of people and investors into the Lighting Network.

Michael Saylor left his role as the organization’s CEO early last month. Ever since, Saylor has remained focused on pushing for the adoption of Bitcoin. Michael Saylor is one of the leading stakeholders in the crypto space. As part of its commitment to the space, Michael Saylor rejuvenated a struggling software firm into a prominent figure in the crypto sector.

Michael Saylor hopes on Bitcoin

With his latest focus on Bitcoin Lighting Network, Saylor believes that Bitcoin Lightning is one of the most sought-after inventions in the world of technology. He described how MicroStrategy is working on enterprise applications on Bitcoin lighting. Some targeted parts include enterprise lightning wallets, enterprise lighting servers, and enterprise authentication. He added that MicroStrategy is working on some R&D projects.

The executive chairman divulged that his company aims to develop solutions to help other firms. Firms will roll out over a hundred thousand employees daily with the solution. The solution will also help the firms to register over 10 million customers on the open lighting wallets overnight.

Saylor emphasized that a part of the firm will commence work on ensuring the seamless use of Bitcoin. He added that the move’s success would increase the value of Bitcoin in the firm’s reserve.

Michael Saylor said that the use of the Lightning network isn’t limited to the swift processing of transactions or subsidizing transaction fees. Saylor opined that the Lightning Network could help fastrack the designing of different functionality. The latest development surfaced after the New York Digital Investment Group (NYDIG) launched a Bitcoin accelerator. With the innovation, the NYDIG intended to jumpstart protocol design.

Currently, MicroStrategy has a reserve worth about 126,699 Bitcoin. The firm has a stronger reputation for holding more Bitcoin than its contemporaries. In recent times, Saylor controversially gained more attention. Last Wednesday, the Attorney General of the District of Columbia filed a lawsuit against Michael Saylor for allegations surrounding tax evasion.

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