MicroStrategy to Introduce Bitcoin Lightning Applications in 2023

MicroStrategy is willing to launch solutions powered by the Bitcoin Lightning Network that could reach millions of users.

Michael Saylor, the executive chairman of MicroStrategy, has stated that the company intends to roll out Bitcoin Lightning Network-powered solutions and applications next year. On Twitter Spaces, Saylor disclosed the company’s plans, stating that MicroStrategy is looking at integrating Lightning Network technologies. As a result, the business may make it possible for customers to do bitcoin transactions more quickly, affordably, and effectively.

Saylor indicated that companies may use the Lightning Network to reward customers who sign up for certain online services by offering them tiny sums of bitcoin (satoshis). He further stated that the incentive program may be seen by millions of people.

In addition, Saylor asserted that the introduction of a Lightning Network wallet may contribute to internet security. For instance, individuals visiting dubious web pages could deposit “100,000” satoshis to safeguard themselves from online dangers. Once people have finished visiting the website, the assets will be restored.

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.”

Crypto Community Reacts As Microstrategy Add to Their Bitcoin Holdings 

MicroStrategy recently added more Bitcoin (BTC) to the company’s holdings. In a recent tweet, Michael Saylor announced that the company has made another Bitcoin purchase. The move brings the company’s total BTC holdings to 132,500 BTC, with purchases totaling $4.03 billion, but only worth about $2.1 billion at the time of writing. Many praised the move, while some addressed potential downsides.

In a back-and-forth on Twitter, Bitcoin analysts Willy Woo and Dan Held shared their thoughts on the MicroStrategy acquisition. According to Woo, Bitcoiners should not be happy when companies add more BTC to their holdings. 

The analyst believes that MicroStrategy’s accumulation of more bitcoins poses a centralization risk as the company’s decision-making is centralized. Also, Woo suggests that it’s best to celebrate adoptions from ordinary people.

In a reply, Held said there was no risk of centralization since ownership does not equate to network control.

The analyst emphasized that there is no way to control who buys bitcoin and people or companies can buy bitcoin however they want.