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MicroStrategy software developer launches work on new product based on Lightning Network
MicroStrategy is preparing a new product using Bitcoin network technology called Lightning Network. This is hinted at by a new vacancy for the position of a software engineer.
MicroStrategy did not officially comment on which project in question. The Lightning Network is a sidechain built on top of the Bitcoin network. The key difference from the traditional network is fast transactions with lower fees.
Meanwhile, MicroStrategy wants to buy even more bitcoin with the proceeds from the sale of shares to Cowen and Company and BTIG. The software provider wants to sell its Class A shares worth $500 million. However, it is not clear when MicroStrategy intends to buy bitcoin tentatively.
At the same time, the company is not going to trade the cryptocurrency acquired in the future or buy any derivatives. Instead, the company plans to simply add more bitcoin to its account and keep the cryptocurrency until better times.
Recall that about 130,000 BTC are stored on the balance of MicroStrategy, as well as subsidiaries. Read about how the founder of MicroStrategy was suspected of dumping 200,000 BTC in the BeInCrypto editorial material.
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