MicroStrategy Founder Reveals New Details on its Proposed Bitcoin Products

Michael Saylor, founder of business software and intelligence company MicroStrategy has announced plans to roll out certain Bitcoin-related products in the near future. According to his recently Twitter post, the company is already actively working towards launching a product that would deliver a Bitcoin (BTC) wallet and a Lightning address to corporate accounts holders.

With this extension, employees, customers, prospects, and partners will gain easy access to quick and easy development as well as deployment of bitcoin rewards applications. 

The BTC Lightning Network is an evolution that is believed to wield the capacity to transform the crypto industry and drive BTC mainstream adoption. Saylor has been bullish about the BTC Layer 2 scalability solution for a long while now.  

At @MicroStrategy, we are working on a product to deliver a #Bitcoin wallet & #Lightning⚡️ address to every corporate account holder and enable quick & easy development & deployment of bitcoin rewards applications to employees, customers, prospects, & partners. pic.twitter.com/XxYoWtGjvU

— Michael Saylor⚡️ (@saylor) May 14, 2023

As an individual who holds the believe that Bitcoin is the future of money, the MicroStrategy founder believes that Lightning Network will help scale transactions more efficiently. 

“If you’re going to do payments and transactions high speed, you’re going to need a base layer that’s ethically sound, economically sound, and technically sound. That’s what Bitcoin is. But then billions and billions of transactions are going to go on a layer 2 like Lightning,” Saylor explained. 

Ultimately, this is very likely to upscale BTC adoption 

Crypto Adoption Becomes Popular Amongst Fintechs

Microstratagy is not a crypto firm but holds the largest BTC holding as at today. The intelligence firm began to accumulate BTC since almost three years and now has more than 140,000 BTC. 

A Securities and Exchange Commission (SEC) filing showed that between March 24th, 2023, and April 4th, 2023 MicroStrategy purchased 1,045 Bitcoin. Notably, the firm is still on a BTC buying spree.

According to Coingape, the technology company’s crypto holding should be running into trillions. However, being a software firm has not deterred MicroStrategy from promoting crypto especially BTC. This action has been an inspiration to many other financial technology firms that have began to expand their investments and offerings to include cryptocurrencies.

Revolut recently made its first foray into to the Latin American region by offering crypto products to Brazilians. Similarly, PayPal has rolled out a feature that allows Venmo customers transfer cryptocurrencies between its platform and other crypto wallets. The American fintech has also revealed that its crypto holding is worth around $1 billion.