Main navigation

MicroStrategy's Michael Saylor Giving Away Bitcoin: Details

Wed, 10/05/2022 - 10:58
article image
Yuri Molchan
Former CEO of company promises Bitcoin giveaway, it is to do with BTC Lightning Network
MicroStrategy's Michael Saylor Giving Away Bitcoin: Details
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Michael Saylor, founder of MicroStrategy who stepped down as the company CEO in August to focus on its further Bitcoin strategy and acquisitions, has engaged himself in a debate with Swedish researcher and current CIO of Arcane Assets fund Eric Wall regarding the Bitcoin Lightning Network.

As part of it, Saylor decided to give away some Bitcoin.

Three million Satoshi giveaway

Eric Wall created a public poll on his Twitter page to pick his followers' brains to see if they believe the former chief of MicroStrategy has ever made more than three transactions using the Bitcoin Lightning Network.

Saylor responded "yes" to that and promised to make "three more transactions," each carrying 1,000,000 Satoshis, to three people who post memes about the Lightning Network in the comments to the tweet and who get the biggest amount of likes.

This trolling of Saylor by Arcane Assets CIO began, apparently, after Saylor announced that MicroStrategy had begun developing its own SaaS (software as a service) based on Bitcoin Lightning Network in order to provide enterprises with solutions to enable new e-commerce use cases.

In the comment thread, Wall continued making fun of Saylor, launching a Twitter poll that suggested that the aforementioned post about the BTC giveaway was published by Saylor's assistant.

1.06 Trillion SHIB Moved to Coinbase as SHIB Goes up 5%, Are Whales Selling?

Saylor steps down as CEO, but focus remains on Bitcoin

Despite the fact that Saylor quit his position as chief executive, he remains in the company as an executive chairman. The position of CEO has been passed to Phong Le, who has been the company's president since 2020.

Michael Saylor will now focus more on the firm's Bitcoin acquisition strategies and products based on the flagship cryptocurrency and, as we see from the said debate, on Bitcoin Lightning Network.

Presently, MicroStrategy holds approximately 130,000 Bitcoins – it has been buying BTC since August 2020 – and is the company with the biggest amount of BTC on its balance sheet. This sum of BTC is worth roughly $3.9 billion at the time of writing.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at