The Bitcoin $29,518 Lightning Network has been associated with the corporate email account of Michael Saylor, who is a Bitcoin bull and co-founder of the business intelligence software company MicroStrategy. MicroStrategy was founded by Michael Saylor.
In a tweet posted on April 17, the former CEO of the firm showed his three million followers a snapshot of a few transactions that had been sent to “[email protected]” from others in Satoshis, which are the smallest unit of currency in Bitcoin. Sats are also known as “Sats.”
Integration with MicroStrategy is made feasible thanks to a system called Lightning Address, which eliminates the need for users to manually copy wallet addresses or make use of QR codes and instead enables them to attach a “Internet Identifier” such as an email address.
It is uncertain whether or not the function was included in all company-wide emails sent by MicroStrategy.
The Lightning Network is an alternative for Bitcoin’s layer 2 scaling that is gaining popularity. It has the capacity to process one million transactions per second (TPS) for a base fee of one Satoshi, which is equivalent to about four cents.
Saylor, who is now serving as the company’s executive chairman, is the individual in charge of MicroStrategy’s investment plan in Bitcoin. This strategy, which intends to strengthen the company’s balance sheet, is being implemented by Saylor.
MicroStrategy has spent a total of $4.17 billion to acquire 140,000 BTC since the company began acquiring in March 2021. This is a yearly rate of purchase of around $1 million. According to the data provided by Buy Bitcoin Worldwide, the typical purchase price for the organization is $29,800.
The current price of Bitcoin is sitting at $29,400, which means that MicroStrategy has only suffered a total loss of 1.3%.
But throughout the last week, Bitcoin climbed beyond the $30,000 level, which caused the business to momentarily return to the black.