MicroStrategy's CEO has confirmed that his company will launch the first enterprise applications for the Lightning Network in 2023.
Michael Saylor, former CEO and current Executive Chairman of MicroStrategy, said during a conversation with Eric Weiss, CEO of Blockchain Investments Group, that Bitcoin's scalability solution, Lightning Network, will be included in its enterprise applications next year.
Saylor had reported in September that his company was exploring the Lightning Network to develop new applications that would improve institutional adoption of Bitcoin, the world's leading cryptocurrency.
According to Saylor, this scalability solution, which uses two-way payment channels that enable near-instant and low-cost transactions with BTC, is helping to build exciting applications that highlight the potential and innovation of Bitcoin.
Some of the applications that the American business intelligence company has planned and been working on for the Lightning Network are focused primarily on cybersecurity and business marketing; for example, the design of a corporate authentication system, a business wallet, and the creation of a payment wall called “Lightning Wall,” which will use Bitcoin to protect business websites from potential cyberattacks.
Some of these applications could be available in the first quarter of 2023, Saylor said.
Development and innovation in Lightning Network
In addition to defending Bitcoin, Michael Saylor is also an enthusiast of its Lightning Network scalability solution. The current CEO of MicroStrategy argues that this solution contributes to the massification of BTC, by improving the performance of the network and cryptocurrency with fast and accessible payments and transactions.
Currently, the Lightning Network payment capacity is 5.090 BTC, about $84,3 million dollars.
Source: Look into Bitcoin
As part of its Bitcoin and Lightning Network adoption strategy, Saylor's company posted a job offer in October for a software engineer with experience in these innovations.
The business intelligence company reaffirmed its work in developing applications that will implement the Bitcoin scalability solution to expand its services and offer new products that explore innovative use cases for the technology.
MicroStrategy also aims to offer services that help its enterprise customers deploy Bitcoin and Lightning Network technology easily and securely.
Another 2.500 BTC added to MicroStrategy's treasury
MicroStrategy, on the other hand, is known for its Bitcoin investment strategy. In fact, the company is positioned as the largest public investor in this cryptocurrency, with a total of 132.500 bitcoins in its corporate treasury.
MicroStrategy recently acquired 2.500 new bitcoins for an investment of approximately $42 million. Since it began its Bitcoin investment strategy in August 2020, the company has invested approximately $4.030 billion, buying each BTC it owns at an average price of $30.390 per unit.
At press time, Bitcoin is priced at around $16.550 per BTC, representing unrealized losses of nearly $1.800 billion for the company. However, Saylor has repeatedly stated that his investment strategy in the market-leading cryptocurrency is long-term.
As MicroStrategy's chief executive, Saylor said he would focus on overseeing institutional bitcoin betting while developing new initiatives focused on innovation, use cases and advocacy for the popular cryptocurrency.
Continue reading: MicroStrategy confirms its long-term investment strategy in Bitcoin
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