Michael Saylor, the executive chairman of Strategy the firm holding over 840,000 BTC has once again made a strong case against altering Bitcoin’s fundamental protocol. Calling the code Bitcoin’s "constitution," he warns that any attempts to modify consensus rules, including block size increases or new covenants, risk undermining the network’s core integrity and the economic sovereignty of its holders. Saylor argues that these foundational rules define Bitcoin’s scarce property rights and final settlement, making changes akin to a coup against users.
His latest push expands on a detailed thread earlier this month where he listed “110 reasons” opposing BIP-110, a proposal aimed at limiting non-monetary data, such as Ordinals and BRC-20 tokens, on the Bitcoin base layer. For Saylor, blocking legitimate fee-paying transactions equates to censorship, which threatens Bitcoin’s value proposition at its core. His stance resonates with other prominent figures like Adam Back from Blockstream, emphasizing that the protocol’s immutability must remain sacrosanct for Bitcoin to fulfill its role as a decentralized store of value.
Strategy’s massive Bitcoin position worth around $63 billion at their average acquisition price near $75,000 per coin reinforces why Saylor is so vocal. Despite recent volatility, the company has neither bought nor sold BTC recently, underscoring a commitment to long-term belief in the protocol as it stands. This hardline view sidelines debates about expanding capacity or introducing new features on the base layer, holding instead that any such moves introduce risks that could unravel decades of consensus and trust.
This ongoing debate over Bitcoin’s future comes as the broader crypto market experiences fluctuating demands for new use cases and scalability solutions. Yet for now, Saylor’s message is clear: Bitcoin’s code is not a playground for experimentation but a foundational contract written in stone.
This content is for informational purposes only and does not constitute financial advice.
