MicroStrategy is researching Ordinals and exploring their potential in application development

ChainCatcher news, according to Decrypt, MicroStrategy co-founder and executive chairman Michael Saylor stated in an interview at Bitcoin 2023 in Miami that the software company is exploring Ordinals and assessing their potential in application development.

Saylor believes that the discussions around Ordinals are important because "Bitcoin miners must succeed in the long term." He added that the development of applications built on Bitcoin's functionality could also promote the overall adoption of the currency among individuals, companies, and governments.

Saylor did not specify which use cases MicroStrategy might explore, but he pointed out that the ability to submit data to Bitcoin's blockchain that is not just related to transactions has many potential applications. Saylor mentioned, "The whole idea of burning data on the blockchain opens the door for me to potentially burn digital signatures, or burn registrations, or burn hashes of documents." (source link)