By
Bena Ilyas
April 25th, 2024
Saylor says that the plan is for MicroStrategy to help companies onboard thousands of customers and employees to the Lightning Network.
Former MicroStrategy (NASDAQ: MSTR) CEO Michael Saylor said that the company is creating software that would easily connect more people and companies to the Lightning Network. Saylor, a longtime advocate of Bitcoin, suggested that MicroStrategy will continue to make Bitcoin usage easy for all.
Saylor revealed the company’s plans at the Baltic Honeybadger conference held in Latvia’s capital of Riga. Speaking on Saturday, the former CEO specified that the company currently has developers working on the software. According to Saylor, the plan is to onboard a large number of people to the Lightning Network. Doing this successfully would make Bitcoin payments and usage a lot easier.
MicroStrategy and Lightning: Saylor Earlier Hinted at Growing Software Business
MicroStrategy, the popular software and cloud services provider, recently announced that Saylor will step down from his role as Chief Executive Officer (CEO). An official release states that Saylor will remain as Chairman while company President Phong Le will become the new CEO. According to Saylor:
“I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding Bitcoin and growing our enterprise analytics software.”
With the recent announcement, Saylor’s earlier comment seems to be coming to fruition. Speaking remotely at the conference, Saylor said that the company has a lot of focus on the Lightning Network:
“MicroStrategy has got some R&D projects going on right now where we’re working on enterprise applications of Lightning: enterprise Lightning wallet, enterprise Lightning servers, enterprise authentication.”
Saylor also mentioned lofty plans for MicroStrategy’s new initiative. He specified that the upcoming solutions would let organizations “roll out Lightning to a hundred thousand employees every day”. He also added that companies should be able to “open Lightning wallets for 10 million customers overnight.”
Saylor on Bitcoin and USD
At the conference, Michael Saylor also made several comments on Bitcoin and USD. The MicroStrategy chairman said he believes that both Bitcoin and the USD will coexist. According to him, the global demand for USD would rise considerably in less than 4 years. He also thinks that the need for Bitcoin would spike in the long term. However, Saylor’s prediction is that people will use both assets hand in hand. He said that “it will be BTC as [a] store of value with Dollar as [a] medium of exchange for the near to medium term.”
Saylor also said that there would be an increased drive in crypto adoption. He however thinks that the major driver for educative crypto content would be social media and not books. He says that because “short videos are instructive,” it’s more likely that YouTube, TikTok, and other social media spread this content better than books.
Bitcoin is currently trading a little under $19,781 as of press time, dropping only 0.01% in the last 24 hours.