Michael Saylor, the co-founder of business intelligence software firm MicroStrategy, has announced that he has fused his work email address with the Bitcoin Lightning Network.
In a tweet on April 17, the company’s former CEO showed his 3 million followers a screenshot of a few transactions received to “[email protected]” from others in Satoshis, also known as “Sats” — the smallest unit of currency in Bitcoin.
MicroStrategy’s integration enabled by Lightning Address protocol, allows users to link an email address to their Bitcoin wallet, which makes it easy to receive Satoshis or “Sats” without having to share their wallet addresses or use QR codes.
Whether MicroStrategy has integrated this feature into all of its corporate emails is still unclear.
With a base charge of 1 Satoshi, or around 4 cents, the Lightning Network, a prominent layer 2 scaling solution for Bitcoin, can execute 1 million transactions per second (TPS).
The company’s executive chairman, Saylor, has been the prime mover behind the idea for MicroStrategy’s Bitcoin investment which intends to improve the company’s balance sheet. Saylor has been a vocal advocate for Bitcoin, and MicroStrategy was one of the first publicly traded companies to invest heavily in the cryptocurrency. The company currently holds over 90,000 Bitcoin, worth over $5 billion at current prices.
MicroStrategy has invested $4.17 billion to acquire 140,000 BTC since the corporation started purchasing in March 2021. Data from Buy Bitcoin Worldwide shows that the average purchase price for the company is $29,800.
While the current price of Bitcoin is $29,400, the firm is only down 1.3% on its total investment.
But last week, when Bitcoin surpassed the $30,000 threshold, the company briefly returned to the green for a short period.