software analysis company MicroStrategy recently added more Bitcoin (BTC) to the shares of the company. Members of the crypto community had mixed reactions to the move.
In a recent tweet, MicroStrategy CEO Michael Saylor announced that the company had made another Bitcoin purchase. The move puts the firm's total BTC holdings at 132,500 BTC, purchased for a total of $4.03 billion, but worth only around $2.1 billion at the time of writing. Many praised the move, while some mentioned some possible negative effects.
Michael Saylor, you are a rock star. The mission of him, Jim, aka Michael Saylor, should he choose to take it on, is to bank the unbanked around the world.
โ The Young Gentleman (@YoungGentlaman) December 28, 2022
One community member praised MicroStrategy's president, calling him a "rock star" whose mission is to bank the unbanked. Others celebrated the new development promising that they would join in and buy more Bitcoin themselves.
However, not everyone is overly enthusiastic about the company's cryptocurrency purchases. Some to think this new action could generate a new price floor for the main digital asset.
In a back-and-forth conversation on Twitter, Bitcoin analysts Willy Woo and Dan Held shared their thoughts on buying MicroStrategy. According to Woo, bitcoiners should not be happy when the company adds more BTC to their holdings. the analyst plot that MicroStrategy accumulating more Bitcoin poses centralization risks because enterprise decision making is centralized. Furthermore, Woo suggested that it is better for ordinary people to celebrate the adoption.
In a counter argument, Held said there would be no centralization risks because ownership does not equate to control of the network. the analyst highlighted that there is no way to control who buys Bitcoin and that individuals or companies can buy as much BTC as they want.
Related: Hal Finney's Wife Announces Bitcoin Charity Event
Meanwhile, Saylor recently announced company plans to provide Lightning Network solutions next year. The executive said that the company is already looking at software and solutions that use the Lightning Network.
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