Michael Saylor warns of internal threats to Bitcoin

Michael Saylor warns that Bitcoin's main threat is internal. He opposes changes to its core rules, arguing such moves could undermine security, neutrality, and economic rights for all participants.

Michael Saylor has stated that Bitcoin has "already won," but he cautions that its greatest threat now comes from within the community itself. He highlights internal governance risks, particularly factions aiming to change Bitcoin's consensus rules for their own interests, as a significant danger to the network's foundational principles. Saylor describes Bitcoin's consensus rules as its "constitution," which defines asset ownership, scarcity, settlement mechanisms, and the overall power structure. He firmly opposes proposals such as BIP-110, covenants, and larger block sizes, arguing that any modification to the base-layer code could compromise security, neutrality, and the economic rights of both current and future participants. His comments have sparked widespread debate in the crypto community about the importance of preserving Bitcoin's core rules and the risks posed by internal changes. Saylor advocates for maintaining the protocol's integrity and encourages innovation through higher-layer solutions rather than altering the core protocol.