MicroStrategy CEO Shares New Details On Its Bitcoin Product

According to his most recent tweet, the company is already working on a product that will provide corporate account holders with a Bitcoin (BTC) wallet and a Lightning address.

Michael Saylor, the founder of MicroStrategy, has announced plans to launch multiple Bitcoin-related products soon. According to his most recent tweet, the company is already working on a product that will provide corporate account holders with a Bitcoin (BTC) wallet and a Lightning address.

Employees, customers, prospects, and partners will now have simple access to creating and deploying Bitcoin rewards applications.

The BTC Lightning Network is a development that is anticipated to revolutionize the cryptocurrency industry and accelerate the extensive adoption of BTC. Saylor has been optimistic about the BTC Layer 2 scalability solution for quite some time.

 

As someone who believes Bitcoin to be the currency of the future, the founder of MicroStrategy believes that the Lightning Network will aid in the growth of transactions.

“If you’re going to do high-speed payments and transactions, you’re going to need a base layer that’s ethically, economically, and technically sound.” That is exactly what Bitcoin is. But then billions of transactions will flow to a layer two like Lightning,” Saylor explained.

In the long term, this will undoubtedly increase BTC adoption.

Fintechs Are Increasingly Adopting Crypto Assets

MicroStrategy is not a cryptocurrency company, but it holds the most BTC as of today. Since almost three years ago, the intelligence firm has been accumulating BTC and now has over 140,000 BTC.

MicroStrategy purchased 1,045 Bitcoin between March 24 and April 4, 2023, according to a filing with the Securities and Exchange Commission (SEC). Notably, the company’s BTC purchasing spree continues.

MicroStrategy’s status as a software company has not prevented it from promoting cryptocurrencies, particularly Bitcoin. This action has inspired several financial technology companies to diversify their investments and services to include cryptocurrency.

Recently, Revolut made its first foray into the Latin American region by offering cryptocurrency products to Brazilians. Similarly, PayPal has released a feature allowing Venmo users to transfer cryptocurrencies between its platform and other crypto wallets. Additionally, the American fintech disclosed that its cryptocurrency holdings are worth roughly $1 billion.