Given the current turbulence in the decentralized finance (DeFi) industry, Bitcoin (BTC) maximalist and MicroStrategy CEO Michael Saylor believes that Bitcoin and the Lightning network can help the DeFi market recover. The DeFi sector is going through a rough patch, with two big protocols, Terra and Celsius, experiencing severe problems within a month of each other. In a recent tweet, Saylor also indicated that Bitcoin and Lightning might help stabilize the business. “Bitcoin provides a “strong ethical, economic, and technical framework for DeFi,” according to Saylor. The Lightning protocol and the BTC token will be utilized to build the next iteration of DeFi”, he continued. The sound ethical, economic & technical foundation for DeFi is #Bitcoin. The next generation of DeFi will be built using the #Lightning⚡️ protocol and the #BTC token.https://t.co/5LlNlXkLMt — Michael Saylor⚡️ (@saylor) June 14, 2022 Bitcoin’s Layer 2 Scalability Solution The Lightning Network, Bitcoin’s Layer 2 scalability solution, has piqued the interest of MicroStrategy’s CEO. According to Saylor, Bitcoin is the future of money, and the Lightning protocol will help with transaction scalability. He went on to say: “If you’re going to do payments and transactions at high speed, you’re going to need a base layer that’s ethically sound, economically sound, and technically sound,” he said. “That’s what Bitcoin is. But then billions and billions of transacti...
