One response to the scalability debate of Bitcoin that divides the cryptocurrency world in two came from Michael Saylor, CEO of MicroStrategy, a Bitcoin supporter billion-dollar company. MicroStrategy, one of the first Bitcoin investors in the institutional sense, recently accepted Bitcoin as the company’s main reserve unit and made an additional $ 175 million BTC investment.
As the use of Bitcoin expanded from individual to corporate, the scaling problem of Bitcoin once again came to the fore. Some experts suggest that Bitcoin will have trouble with large-scale use. This scalability problem is seen as one of the biggest obstacles to the use and spread of Bitcoin on the basis of large companies, banks and even countries. However, Michael Saylor, the founder and CEO of MicroStrategy, who made an additional investment in his massive Bitcoin investment 3 days ago, is directly opposite to the people who think this way.
Bitcoin Is Very Scalable as a Tool of Accumulation
First of all, MicroStrategy, which invested $ 250 million in institutional Bitcoin, recently increased its total BTC reserves to $ 425 million with an additional investment of $ 175 million. Michael Saylor, the founder and senior manager of MicroStrategy company, which is one of the main supporters of Bitcoin on an institutional basis, shared his thoughts on scalability discussions and his experiences with his tweet.
Saylor stated that they have received 21,454 Bitcoins with 78,388 off-chain transactions in total, and they have secured them by transferring them to cold wallets with 18 on-chain transactions. Stating that they did not encounter any problems while carrying out these transactions, the CEO underlined that Bitcoin is very scalable as an accumulation tool.
Saylor said that if Bitcoin, like MicroStrategy, is turned into treasury reserves, more than 99% of all transactions will be off-chain and the part to be secured will be kept in cold wallets. Founder Michael Saylor argued that in such a scenario there was no scalability barrier to using Bitcoin for corporate purposes.
The billion-dollar company MicroStrategy of the NASDAQ 100 index became the first corporate company to invest in Bitcoin against inflation. After this important move of the company, the transition of startup and corporate companies that want to invest in Bitcoin in the market has accelerated. One of them was Canadian-based software company Snappa.