On Saturday (September 3), Michael Saylor, co-founder and CEO of Nasdaq-listed affaires arrangement firm MicroStrategy (NASDAQ:MSTR), spoke emboîture what his company is doing to help the enterprise adopt Bitcoin’s Lightning Network.
It should be noted that on August 11, 2020, MicroStrategy announced via a press release It “purchased 21,454 bitcoins at a intégral purchase price of $250 million” to use it as “a primary reserve asset for the treasury.”
Michael Saylor (Co-founder, Chairman and CEO of the company) said at the time:
“Our decision to invest in Bitcoin at this time was driven in portion by a combination of macro factors affecting the economic and affaires landscape that we believe create long-term risks for the company’s treasury program – risks that must be proactively addressed.“
Since then MicroStrategy has continued to accumulate Bitcoin and its CEO has become one of the most oral Bitcoin advocates. MicroStrategy’s latest bitcoin dollar purchase, which Saylor tweeted on June 29, means the company is now accumulating emboîture 129,699 bitcoins, “acquired for approximately $3.98 billion at an average price of emboîture $30664 per bitcoin.” .
On August 2, MicroStrategy released its financial results for the adjoint quarter of 2022. company press release Embout the latest quarterly earnings différé announced that “Solide August 8, 2022, Michael Saylor will take over as the new CEO, and Fung Lu, the company’s president, will take over as the new CEO of the company and a member of the Board of Directors.” It also stated that “Mr. Saylor will remain the Chairman and CEO of the Company.”
The press release went on to say that “As CEO, Mr. Saylor will foyer primarily on primeur and the company’s long-term strategy, while continuing to oversee the company’s bitcoin propriété strategy as objet of the Board’s Investments Committee.”
Saylor said this emboîture his new role at the company:
“I believe that dividing the roles between the Chairman and CEO will enable us to better pursue our corporate strategy to acquire and hold bitcoin and grow our enterprise analytics logiciel affaires. As CEO, I will be able to foyer more on our bitcoin propriété strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to run the company’s overall operations.“
Here’s how to use Binance Academy explain What is the Lightning Network:
“The Lightning Network is a network that sits on top of the blockchain to facilitate fast peer-to-peer transactions. It is not farouche to Bitcoin – other cryptocurrencies such as Litecoin have integrated it. You may be wondering what we mean by “sitting on top of the blockchain.” The Lightning Network is a so-called off-chain or Layer 2 enseignement. It allows individuals to transact without having to performance every arrangement on the blockchain.
“The Lightning Network is separate from the Bitcoin network – it has its own nodes and logiciel, but it nonetheless communicates with the gant chain. To greffer or sortie the Lightning Network, you need to create private transactions on the blockchain. What you actually do with your first arrangement is build some kind of manière contract with another roder.“
Sunday (September 4), CoinDesk mentioned That Saylor spoke (via video call) on Saturday (September 3) to an médiamat at the Baltic Honeybadger conference in Riga, Latvia, and that he said this emboîture what his company is doing with the Lightning Network:
“MicroStrategy has had some R&D projects underway now as we work on enterprise applications for Lightning: the enterprise Lightning wallet, enterprise Lightning servers, enterprise authentication.“
He also explained why he believes Lightning has a great future:
“The advantage of Lightning is not only that you can scale bitcoins to billions of people, or push the arrangement cost to almost nothing, but also, the spirit of bitcoins is to move very cautiously and not move quickly on the sub-global séance layer. The accord is, however, in Lightning, you can move development functionality more aggressively and take more risks with applications than you can with the underlying Bitcoin layer.“
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