According to recent publications, MicroStrategy co-founder and executive director Michael Saylor stated in an interview during Bitcoin 2023 in Miami that the company is not only aware of Bitcoin Ordinals, but is also interested in the possibility that the system that will support the Bitcoin community has troubled can lead to software innovation.
MicroStrategy continues to invest in Bitcoin
Saylor’s most recent comments came less than a week after he called Ordinals a “catalyst” for Bitcoin adoption on the PBD Podcast.
However, in his recent speech to support Ordinals, he indicated that the software company is now actively researching Ordinals and evaluating its application development capabilities.
Because “Bitcoin miners need to be successful in the long run,” Saylor went on to say that creating apps based on Bitcoin’s capabilities could increase the currency’s popularity among individuals, businesses and governments.
A wide range of possible applications
Saylor didn’t specify what applications MicroStrategy would explore using Ordinals, but he did emphasize that the ability to add data to Bitcoin’s blockchain that isn’t just connected to transactions opens up a wide range of possible applications. He noted:
“The whole idea of burning a piece of data on the blockchain opens the door to the possibility of me burning a digital signature, or burning a record, or burning a hash of a document.”
What are Bitcoin Ordinals?
Ordinals, which are often used to construct NFT-like properties, first appeared in January, and the introduction of the protocol, while barely accepted by the Bitcoin community, has sparked a new wave of innovation with Bitcoin.
Exploring coin generation on top of Bitcoin is a recent development in this field that uses Ordinals. It is worth mentioning that Binance, the world’s largest cryptocurrency exchange, recently announced that it will allow Bitcoin Ordinals on its NFT marketplace by the end of May 2023.