MicroStrategy to Introduce Bitcoin Lightning Applications Next Year

Cryptocurrency

MicroStrategy to Introduce Bitcoin Lightning Applications Next Year – Crypto News

Published

3 years ago

December 29, 2022

Dripp

MicroStrategy’s Executive Chairman – Michael Saylor – said the company intends to roll out Bitcoin Lightning Network-powered solutions and applications next year.

The business intelligence firm previously planned to launch an enterprise Lightning Wallet and Lightning servers and was looking to hire a software engineer to be in charge.

Presenting the 2023 Plans

Saylor disclosed the firm’s intentions on Twitter Spaces, saying MicroStrategy is exploring ways to integrate Lightning Network solutions. As such, the company could enable consumers to process faster, cheaper, and more efficient bitcoin transactions.

“What if we actually created an enterprise deployable Lightning wallet on one side, and then on the other side … what if we created an enterprise server that you could use to monetize any website?”

The Executive Chairman suggested that businesses could employ the Lightning Network to incentivize clients by giving them small amounts of bitcoin (satoshis) when they apply for certain online services. The reward campaign could reach millions of users, he added.

Saylor also claimed that the rollout of a Lightning Network Wallet could take part in Internet security. For example, individuals visiting dubious web pages could deposit “100,000” satoshis (around $17 at current prices) to protect themselves from cyber threats. The assets would be restored once users complete their website visit.

The American said MicroStrategy aims to spread the Lightning Network applications in the first quarter of 2023, believing it could target millions:

“We want to make it possible for any enterprise to spin up a Lighting wallet and a Lightning wallet architecture in the matter of an afternoon and deploy it to [thousands or millions of people],

The firm hinted about its plans in September, adding a job listing for a Bitcoin Lightning Software Engineer. The main role would be to build a Lightning Network-based SaaS platform and provide enterprises with “innovative solutions to cyber-security challenges and enabling new eCommerce use-cases.”

Michael Saylor Source: CNBC

Adding More BTC

Despite the prolonged bear market, MicroStrategy recently doubled down on its bitcoin agenda, purchasing an additional 2,501 BTC. The company’s stash increased to 132,251 BTC (nearly $2.2 billion at the moment of writing these lines).

It started accumulating bitcoin in the summer of 2020, spending a little over $4 billion to acquire the total in the following years.

Due to bitcoin’s price crash in 2022, MicroStrategy currently sits on around $1.8 billion of unrealized losses.

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