MicroStrategy's Bitcoin acquisition is tearing the cryptocurrency community apart

Software analytics firm MicroStrategy recently added more Bitcoin (BTC) to the company’s holdings; Members of the cryptocurrency community had mixed reactions to the move.

MicroStrategy CEO Michael Saylor announced in a recent tweet that the company has received another amount of Bitcoin. The move brings the company’s total bitcoin holdings to 132,500 BTC, which was bought for just $4.03 billion at the time of writing, but worth only $2.1 billion. While many praised the move, some noted some potential negative effects.

One community member hailed the chairman of MicroStrategy as a “rock star” whose mission is to provide banking services to the unbanked. Others celebrated the new development by pledging to join in and buy more bitcoins themselves.

However, not everyone is overly excited about the company’s marketing. Some believe that this new measure could lead to a new price drop for the top digital assets.

In a Twitter chat, Bitcoin analysts Willie Woo and Dun Held shared their thoughts on MicroStrategy’s acquisition. According to Wu, Bitcoin supporters should not be happy when the company adds more Bitcoin to its holdings. The analyst argued that MicroStrategy’s acquisition of more bitcoins poses centralization risks because the company’s decision-making process is centralized. Furthermore, Wu suggested that it is best to celebrate the adoption by ordinary people.

In a counterargument, Held argued that there would be no risk to centralization because ownership does not equate to control over the network. The analyst explained that there is no way to control who buys bitcoin, and people or companies can buy as many bitcoins as they want.

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