Saylor Warns BIP-110 Threatens Every Bitcoin Holder's Economic Rights

Michael Saylor, executive chairman of The Strategy company behind the largest corporate position in Bitcoin (BTC), has called out BIP-110 as a threat to every holder's economic rights. According to him, rewriting Bitcoin's consensus rules is akin to rewriting its constitution, which decides property rights, scarcity, settlement, and limits on changes.

Saylor grouped BIP-110 with covenant proposals and calls for larger blocks as instruments serving one constitutional offense. He warned that crippling the fee market would starve Bitcoin's defenders exactly when the network needs them most, leading to 'disarmament rather than protection.'

The contested soft fork is currently at 2.64% miner support, far below the required 55% needed to activate it by its mandatory signaling window on August 9.