2023-04-18 16:33:30
The Lightning Address protocol allows users to send Bitcoin via the Lightning Network to a crypto wallet identifier that resembles a traditional email address.
Michael Saylor, an outspoken proponent of Bitcoin and co-founder of MicroStrategy, has integrated the Bitcoin Lightning Network into his corporate email address. This means that anyone can use this email address – [email protected] — to send Bitcoin (BTC) to the 58-year-old billionaire.
Integration is a Lightning Address protocol is used. This allows developers to replace a standard Lightning invoice or payment request with an Internet identifier such as an email address.
The Lightning Address protocol is already supported by most crypto wallets.
MicroStrategy’s risky Bitcoin strategy is now in the green following the recent rally
As the price of Bitcoin crossed the $30,000 mark, it seems that MicroStrategy’s bold investment in the largest cryptocurrency might soon pay off.
MicroStrategy said in an April 5 filing with the SEC that between March 24 and April 4, the company and its affiliates purchased regarding 1,045 bitcoins worth regarding $29.3 million.
With this, MicroStrategy bought a total of regarding 140,000 Bitcoins worth regarding $4.17 billion. This means an average purchase price of regarding $29,803 per coin.
The leading cryptocurrency is up 6.2% in the last 24 hours and is trading above $30,300 at the time of writing. This means that MicroStrategy’s Bitcoin holdings are currently worth more than $4.2 billion.
MicroStrategy made headlines in 2020 when the company first purchased $250 million worth of Bitcoin as part of the company’s treasury reserve strategy. Since then, Microstrategy has continued to increase the amount of Bitcoins purchased in several rounds.
The business sector initially welcomed the move with skepticism. Indeed, many experts in the financial industry were uncertain regarding the long-term viability of Bitcoin as a store of value.
However, MicroStrategy Executive Chairman Michael Saylor has become a vocal proponent of Bitcoin. He argued that its value can outperform traditional asset classes such as gold and stocks.
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