Michael Saylor, founder of MicroStrategy, revealed plans to introduce a range of new Bitcoin Products. A new Lightning product will be launched that will improve Bitcoin’s transaction speed.
MicroStrategy Founder Reveals New Details
MicroStrategy is a business software and intelligence company. The company recently communicated on Twitter informing that they are working passionately and actively to improve themselves in Bitcoin-related products.
The company will soon launch a product that can deliver Bitcoin Wallet (BTC) and a lightning address for the account holders. This would be utterly beneficial for the employees, customers, prospects, and partners as they will now have easy access, development, and Bitcoin rewards application.
The BTC Lightning Network is expected to reform the crypto industry and boost the mainstream adoption of Bitcoin.
Bitcoin is touted as a replacement for a traditional currency with its enhanced ease of use, privacy, and reach. Saylor believes that the BTC Lightning Network will make managing transactions easier.
He believes that Lightning Network provides a layer that is ethically, economically, and technically sound. This layer will enhance the efficiency of Bitcoin by making transactions at high speed with minimum lags.
For Michael Saylor, Bitcoin is not just an innovation to finance and a medium to replace traditional currencies but is a medium to store wealth. He believes Bitcoin is the most efficient and effective means to do so.
Fintechs Adopt Crypto
In today’s time, MicroStrategy holds the largest BTC holdings despite not being a crypto firm. Today, It holds about 140,000 BTC and is working on it for three years now. But It has not taken this step suddenly. Michael Saylor already indicated that he is taking cryptocurrencies seriously. He made this clear back in August 2020 when he purchased Bitcoin worth $250 million.
Now, MicroStrategy is a well-known firm for Bitcoin Holdings and its founder Saylor has taken a role in Bitcoin advocacy as well. This indicates that any increase in the ownership of MicroStrategy is an increase in interest in Bitcoin.
MicroStrategy purchased 1,045 Bitcoin within 10 days from March 24, 2023, to April 4, 2023. This data was displayed by the Securities and Exchange Commission (SEC) filing. This step is contemplated as an inspiration to other financial firms that are planning to or will plan to widen their domain in cryptocurrencies.
Revolut recently offered crypto products to Brazilians and with this, made its first move or raid into the Latin American region. Similar to this was the PayPal feature that permitted customers to transfer cryptocurrencies between its platform and other crypto wallets. This was allowed to only Venmo customers. American Fintech also announced their crypto worth to be around $1 billion.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/05/16/microstrategy-to-offer-more-bitcoin-products-with-new-details/