The chief executive officer of Bitcoin bullish firm Microstrategy appreciated the role of the Bitcoin lightning network, which is helpful for Bitcoin adoption.

Microstrategy is a business intelligence firm. Michael Saylor is the founder of Microstrategy and also the former CEO of this software intelligence company. Under the leadership of Saylor, the company held around $130k Bitcoins on its balance sheet as permanent Bitcoin holders, and also he planned to make the company a Bitcoin millionaire company.

Recently in a bitcoin-only conference, Michael Saylor talked about the importance of the Bitcoin lightning network and also confirmed that his company is also working on a new “Bitcoin lightning network infrastructure”. 

Saylor said that the lightning network concept helps Bitcoin adoption to a greater extent because it allows developers to develop highly scalable decentralized applications (DApps) and also allows users to transfer Bitcoin at a very low cost. 

Microstrategy former CEO said:

‘‘The ethos of bitcoin is to go very carefully and not move fast on the base layer without the universal consensus, but in Lightning, you can move much more aggressively developing functionality and take more risks with the applications than you can with the underlying Bitcoin layer.”

Saylor said that his software intelligence firm’s developer team is working on a new suit for the Bitcoin lightning network and also Research & Development (R&D) team is engaged in enterprise with a new wallet based on the Lightning network.

The former CEO of MicroStrategy said that the current ongoing development work by Microstrategy will help to bring around 10 million customers to the Bitcoin world. 

In late of the last year, the Microstrategy founder said that the company has no official plan to sell or trade Bitcoin but the company may decide to bring the use of Bitcoin. At that time, Saylor noted that the company may plan to give Bitcoin to other third-party companies to use Bitcoin funds in the form of liquidity or the company may introduce its Bitcoin use case via the a new application.

Read also: Russian central bank teamed up with the finance ministry to allow international crypto payment


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