MicroStrategy converts company mail to Bitcoin lightning address News ▸ Bitcoin ▸ Technology
MicroStrategy converts company mail to Bitcoin lightning address
MicroStrategy has spent $4.17 billion to accumulate 140,000 BTC since adopting the BTC standard in March 2021.
1 min read
Updated: May. 25, 2023 at 2:13 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
MicroStrategy chairman Michael Saylor revealed that the firm converted his corporate email address to a Lightning address — a nod to the company’s continued bullishness on Bitcoin (BTC).
The former MicroStrategy CEO disclosed this in an April 17 tweet, adding that “people keep sending me 21 sats.”
With the conversion, it is now possible for people to send BTC to Saylor using his email as an identifier.
Bitcoin enthusiast Walker said the business intelligence company integrated the Lightning feature into all its corporate addresses.
MicroStrategy was yet to respond to CryptoSlate’s request for comment as of press time.
Wu Blockchain reported that “the integration uses the Lightning Address protocol, which allows developers to replace standard Lightning payment requests with Internet identifiers, such as email addresses.”
Community welcomes the integration
Meanwhile, several crypto community members have welcomed the news, with some tagging Coinbase CEO Brian Armstrong to the development. The Coinbase CEO recently hinted that the U.S.-based crypto exchange would integrate the feature.
In 2022, Saylor confirmed that MicroStrategy was working on its Lightning product. At the time, the BTC maxi described Lightning as the “internet of money” and a technological investment.
Bitcoin lightning network adoption has grown in recent years. The total value of assets locked on the layer2 payment network currently stands at 5,328 BTC — roughly $162 million — according to DeFillama data.
Meanwhile, MicroStrategy has spent $4.17 billion to accumulate 140,000 BTC since adopting the BTC standard in March 2021. The company’s BTC holdings recently turned positive after the digital asset briefly traded above $30,000.
Several traditional financial institutions have been buying MicroStrategy stocks to gain indirect exposure to BTC. The company’s stock is one of the best-performing crypto stocks in 2023, up 114% on the year-to-date metric.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
Michael Saylor is the Executive Chairman, founder, and principal shareholder of MicroStrategy.