Described as an institutional Bitcoin vault, MicroStrategy has given the green light to the Bitcoin Ordinals protocol. MicroStrategy Chief Executive Officer, Michael Saylor, announced that MicroStrategy is investigating Ordinals for application development. Stating that the company is not only aware of Ordinals, Saylor said that he is interested in how the protocol, which excited the Bitcoin community, could lead to software innovation. There is growing interest in the Ordinals protocol, which is causing chaos on the Bitcoin network. MicroStrategy, the company with the most BTC, announced that it is interested in Ordinals. The Ordinals protocol and BRC-20 tokens caused congestion on the Bitcoin network last week. Due to the increased transaction demand, transaction fees on the network rose to record levels. Processing times were getting longer, leading to network congestion. Thereupon, voices of criticism against Ordinals and BRC-20 arose among the community. Speaking at the Bitcoin 2023 event in Miami, MicroStrategy Chief Executive Officer Michael Saylor said that the software company is examining Ordinals and evaluating its potential in terms of application development. Emphasizing the importance of the Ordinals discussions, Saylor said that “Bitcoin miners should be successful in the long run.” He stated that applications built on the functionality of Bitcoin can support adoption. Saylor did not provide further details on MicroStrategy’s work on Ordinals, adding that the Bitcoin network has many potential applications. MicroStrategy has 140,000 BTC with recent purchases. The company qualifies as an institutional Bitcoin vault due to its BTC ownership. The company had put 7,500 BTC in its vault since February. This news has been prepared in cooperation with Chip Online and BTCHaber.