- Michael Saylor receives satoshis via email from the Lightning Network.
- LN capacity has reached an all-time high despite a drop in channel capacity.
- MicroStrategy BTC holdings have reached the break-even point.
MicroStrategy’s CEO has integrated the Lightning Network into his corporate email structure, confirming the company’s commitment to Bitcoin.
MicroStrategy CEO Michael Saylor revealed on April 18 that he had converted his corporate email address to a Lightning address. “People keep sending me 21 sats [satoshis],” he continued. Because of the integration, anyone with the executive’s company email address can send him BTC.
Furthermore, the Lightning Address protocol allows users to substitute an identifier, such as an email address, for a payment request. This is more convenient than using long crypto wallet addresses or QR codes for sending and receiving payments. It is similar to the Ethereum Name Service (ENS) protocol, which facilitates the same thing using Ethereum internet addresses.
Saylor may incorporate the Lightning Network into all corporate email addresses. To encourage adoption, the company is promoting a “Bitcoin and Lightning for Corps” initiative at its company event in Florida in early May.
Has the Lightning Network Adoption Slowed, or not?
The Lightning Network is Bitcoin’s layer-2 scaling solution, capable of handling one million transactions per second. According to Bitcoin Visuals, the number of Lightning Network channels has decreased by 6.5% this year. Total tracks peaked at around 88,000 in March 2022 but had fallen to 79,000 by April 2023.
Furthermore, the number of Lightning nodes peaked at 20,000 in March 2022 but is now estimated at around 18,000. This suggests that network activity has decreased slightly during the current bear market.
According to Bitcoin Visuals, the current Lightning Network capacity is 5,490 BTC, or approximately $165 million. This metric is at an all-time high in terms of BTC, which has gained 50% in the last year. As more Bitcoin enters the payments network, this metric suggests the opposite.
MicroStrategy is Barely Back in the Black
Following the recent rally to $30,001, MicroStrategy’s Bitcoin holdings are back in the black. According to Bitcoin Treasuries, the software firm is the largest corporate holder of the asset, with 140,000 BTC. The stash is worth $4.1 billion at current Bitcoin prices.
If Bitcoin markets begin to correct, as they appear to be doing today, MicroStrategy will fall back into the red.
