Software analytics company MicroStrategy recently added more Bitcoin (BTC) to the firm’s holdings. Members of the crypto community had mixed reactions to the move. Many commended the move, while some brought up some potential negative effects. Some think this new action could potentially spark a new bottom price for the top digital asset.

In a back-and-forth conversation on Twitter, Bitcoin analysts Willy Woo and Dan Held shared their thoughts on MicroStrategy’s purchase. According to Woo, Bitcoiners should not be happy when the company adds more BTC to its holdings. The analyst argued that MicroStrategy accumulating more Bitcoin poses risks of centralization because the company's decision-making is centralized. In addition, Woo suggested that it’s better to celebrate adoption by ordinary people.

In a counter-argument, Held said there would be no risks of centralization because ownership does not equate to network control. The analyst highlighted that there’s no way to control who buys Bitcoin and that people or firms can buy as much BTC as they want.

(By EZRA REGUERRA)