Saylor Warns Misguided Protocol Changes Threaten Bitcoin's Credibility
Michael Saylor, co-founder of Strategy, has warned that Bitcoin's (BTC) greatest threat comes from within - specifically, misguided protocol changes tied to BIP-110.
Saylor made this statement in a recent post on X, where he declared that BTC has secured its place as global digital capital. However, he emphasized that bank lending and digital credit will determine Bitcoin's future trajectory, rendering the traditional four-year halving cycle 'dead'.
The proposal at the center of the controversy is BIP-110, a temporary one-year soft fork introduced by developer Dathon Ohm and supported by the Bitcoin Knots team. This proposal aims to restrict non-monetary data in Bitcoin transactions, targeting Ordinals inscriptions, BRC-20 tokens, and large OP_RETURN payloads that critics argue bloat the blockchain and raise costs for node operators.
The BIP-110 signaling process has been active since March 2026, with a possible activation decision approaching later this year. Supporters of the proposal argue that it defends Bitcoin's identity as sound money by preventing arbitrary data from competing with payments and driving up fees for ordinary users.
However, Blockstream CEO Adam Back took a different view, warning that consensus-level restrictions could damage Bitcoin's credibility as a store of value and set a precedent for future transaction censorship. He argued that the proposal is 'bypassable' and that the real cost lies in innovation damage.