Microstrategy Bitcoin purchase divides the crypto community

Software analytics institution MicroStrategy precocious added much Bitcoin (BTC) to the firm’s holdings. Members of the crypto assemblage had mixed reactions to the move. 

In a caller tweet, MicroStrategy’s enforcement president Michael Saylor announced that the steadfast had made different Bitcoin purchase. The determination puts the firm’s full BTC holdings astatine 132,500 BTC, purchased for a full of $4.03 cardinal but worthy lone astir $2.1 cardinal astatine the clip of writing. Many commended the move, portion immoderate brought up immoderate imaginable antagonistic effects.

Michael Saylor, you are a stone star. Your ngo Jim aka Michael Saylor, if you take to judge it, is to slope the unbanked passim the world.

— The Young Gentleman (@YoungGentlaman) December 28, 2022

A assemblage subordinate praised the MicroStrategy chairman, calling him a “rock star” whose ngo is to slope the unbanked. Others celebrated the caller improvement by pledging that they would articulation successful and bargain much Bitcoin themselves.

However, not everyone is overly enthusiastic astir the company’s crypto shopping. Some think this caller enactment could perchance spark a caller bottommost terms for the apical integer asset.

In a back-and-forth speech connected Twitter, Bitcoin analysts Willy Woo and Dan Held shared their thoughts connected MicroStrategy’s purchase. According to Woo, Bitcoiners should not beryllium blessed erstwhile the institution adds much BTC to its holdings. The expert argued that MicroStrategy accumulating much Bitcoin poses risks of centralization due to the fact that the company's decision-making is centralized. In addition, Woo suggested that it’s amended to observe adoption by mean people.

In a counter-argument, Held said determination would beryllium nary risks of centralization due to the fact that ownership does not equate to web control. The expert highlighted that there’s nary mode to power who buys Bitcoin and that radical oregon firms tin bargain arsenic overmuch BTC arsenic they want.

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Meanwhile, Saylor precocious announced the company's plans to supply Lightning Network solutions adjacent year. The enforcement said that the institution is already looking into bundle and solutions that utilize the Lightning Network.