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MicroStrategy, a software analytics business, has increased its holdings of Bitcoin. The decision drew varied responses from some in the crypto community. Michael Saylor, the executive chairman of MicroStrategy, revealed the company's most recent Bitcoin acquisition in a tweet. The transaction brings the company's total BTC holdings to 132,500 BTC, which were acquired for $4.03 billion in total but are currently only worth about $2.1 billion. Some pointed out some possible drawbacks, while others applauded the action. https://twitter.com/saylor/status/1608086703843180544?
MicroStrategy CEO - A Rockstar of the Crypto Community
The MicroStrategy CEO was complimented by a member of the public who referred to him as a "rock star" with the goal of banking the unbanked. Others pledged to join in and purchase additional Bitcoin as they did so in response to the recent incident. The company's cryptocurrency shopping, nevertheless, has not exactly won over everyone. According to others, this new step may lead to a new low price for the most valuable digital asset.
Bitcoin Creates Centralization Risks
Bitcoin experts Willy Woo and Dan Held engaged in a back-and-forth discussion on Twitter over MicroStrategy's acquisition. Woo claims that when the business increases its BTC holdings, Bitcoiners shouldn't be pleased. The analyst contended that since MicroStrategy's judgment is centralized, acquiring additional Bitcoin creates dangers of centralization. Woo also advocated for the idea that it's preferable to recognize common people's adoptions. https://twitter.com/woonomic/status/1608134582045642753 Held refuted this claim by arguing that there would be no problems associated with centralization since network management and ownership are two distinct concepts. The expert emphasized that it is impossible to regulate who purchases Bitcoin and that individuals or businesses are free to purchase any digital currency.