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Gungun Bhatia
Dec 29, 2022
by Gungun Bhatia

MicroStrategy Bitcoin Purchase Splits the Crypto Community

MicroStrategy Bitcoin

Table of contents

  1. MicroStrategy CEO - A Rockstar of the Crypto Community
  2. Bitcoin Creates Centralization Risks
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.

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.

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.

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MicroStrategy Bitcoin Purchase Splits the Crypto Community
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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