MicroStrategy making new bitcoin play, developing Lightning Network-based Saas platform

Quick Take

  • MicroStrategy is on the lookout for a bitcoin lightning engineer, according to its job board. 
  • The software company has already made a massive bet on bitcoin, as it owned a 130,000 btc as of Sept. 20.

MicroStrategy appears to be moving beyond just holding bitcoin as the firm searches for a bitcoin lightning engineer. 

The software company is looking for an engineer to build a Lightning Network-based sales-as-a-service (SaaS) platform, according to a listing. It goes on to say that the platform will provide enterprises with "innovative solutions to cyber-security challenges" while also looking to enable new eCommerce uses for the Lightning Network. 

The Lightning Network is a Layer 2 protocol that aims to provide an accessible way for users to engage in off-chain payments quickly and reliably by adding another layer to the Bitcoin blockchain, according to The Block's data dashboard. Lightning is built on the notion of payment channels, allowing two parties to lock up on-chain funds in the channel as they transact, without pushing their transactions to the blockchain. 

Platforms such as Strike, which recently raised $80 million in a Series B funding round, and Jack Dorsey's Cash App already use the network.

MicroStrategy's co-founder and former CEO, Michael Saylor, moved into a role as executive chairman in August to focus on bitcoin advocacy. Since then, MicroStrategy has added an additional $6 million worth of bitcoin, bringing the firm's total holding to about 130,000 btc.

The company currently has two applicants on LinkedIn, according to the listing. MicroStrategy did not immediately respond to a request for comment from The Block. 

 
 
 

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.