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MicroStrategy, With Bitcoin’s Price Depressed, Looks to Lightning to Boost Usage, Saylor Says
Michael Saylor, who transformed a sleepy software firm into a cryptocurrency powerhouse via a (currently underwater) multi-billion dollar bet on bitcoin, is now having the non-crypto part of the business work on bitcoin-related projects as well. Speaking to an audience at the Baltic Honeybadger conference in Riga, Latvia, on Saturday, the executive chairman and former CEO of MicroStrategy said the firm’s developers are working on solutions that would allow to onboard large numbers of people onto the Lightning network, a payment network on top of bitcoin allowing faster and cheaper transactions. Saylor announced on Aug. 2 he stepped down as MicroStrategy CEO, retaining his position as chairman of the board and taking on the new title of executive chairman.
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