MicroStrategy Bitcoin Buying Splits The Crypto Community
MicroStrategy, a business that specializes in software analytics, has recently increased the amount of Bitcoin that it holds.The decision was met with a variety of opinions from members of the crypto community.
Michael Saylor, the executive chairman of MicroStrategy, revealed the company's latest Bitcoin acquisition in a tweet that was published not too long ago.
Because to this transaction, the company now has a total holdings of 132,500 BTC, which were acquired for a total of $4.03 billion but are only worth around $2.1 billion as of the time this article was written.
The action was praised by a large number of people, however others pointed out certain possible adverse repercussions.
A member of the community gave high admiration to the chairman of MicroStrategy, describing him as a "rock star" whose purpose is to provide banking services to those who do not have access to them.
Others expressed their delight at the new information by declaring that they would follow suit and purchase more Bitcoins for themselves.
However, there are some people who aren't really excited about the company's cryptocurrency purchasing.Some people believe that this new move may have the ability to cause a new minimum price for the leading digital asset.
Bitcoin experts Willy Woo and Dan Held engaged in a back-and-forth discussion on Twitter over MicroStrategy's acquisition, offering their perspectives along the way.Bitcoin users, in Woo's view, have no reason to rejoice if a corporation increases the amount of Bitcoin that it has.
The analyst noted that the accumulation of additional Bitcoin by MicroStrategy creates dangers of centralization due to the centralized nature of the company's decision-making process. Held presented a rebuttal to this argument by stating that there would be no dangers associated with centralization since ownership does not equal network control.
The expert emphasized that there is no method to restrict who purchases Bitcoin and that individuals or businesses are free to purchase whatever amount of BTC they like.
Saylor, meantime, has only just made public the company's intention to start offering solutions for the Lightning Network in 2019. According to the CEO, the business is already exploring the possibility of implementing software and solutions that make use of the Lightning Network.