TL;DR:
- Saylor publicly stated his position on who controls Bitcoin amid the debate over two technical proposals dividing developers and miners.
- BIP-110 seeks to filter transaction spam without miner consensus; BIP-361 proposes freezing dormant wallets, including those of Satoshi Nakamoto.
- Strategy holds around 847,363 BTC valued at $52.6 billion, though it records unrealized losses of $11.5 billion due to the price decline.
Amid a technical debate shaking the foundations of the Bitcoin ecosystem, Michael Saylor, executive chairman of Strategy and the largest corporate holder of the cryptocurrency in the world, published his position on how the future of the protocol should be defined. The message was immediately reposted by Adam Back, CEO of Blockstream, which amplified its reach within the community.
The debate that prompted Saylor’s intervention involves two simultaneous proposals. The first, BIP-110, proposes implementing a transaction spam filter that some developers are pushing without the consent of miners.
The second, BIP-361, proposes forcibly freezing old and dormant wallets, including addresses attributed to Satoshi Nakamoto, which hold approximately 1.1 million BTC, under the argument of protecting the network against potential quantum attacks.
Bitcoin’s future is shaped by dynamic consensus among nodes, miners, and holders. Influence is weighted by power: nodes by transaction power, miners by computer power, holders by economic power. Protocol changes prevail when validation, security, and capital align. $BTC
— Michael Saylor (@saylor) July 3, 2026
A Balance No One Can Break
Saylor made clear that in a decentralized network, capital does not grant a determining vote. According to his argument, investors hold only “economic power“, which is balanced on equal terms with the transactional power of nodes and the computational power of miners. All three factors must align for any protocol change to move forward.
The executive also noted that external factors—whether political, legal, or institutional—exert only a second-order influence. They can persuade, coordinate, or pressure participants, but cannot determine consensus autonomously. The protocol, in his view, is the only sovereign instance.
What Does Saylor Say About Strategy’s Situation?
Strategy is going through a delicate moment. Saylor’s company accumulates unrealized losses of $11.5 billion, resulting from the gap between its average purchase price of $75,646 per BTC and the current value of the cryptocurrency, which hovers around $62,000. Faced with criticism from traditional markets, Saylor applies his own logic: external pressure may complicate the debate, but long-term consensus is dictated exclusively by the rules of the protocol, not by quarterly earnings reports.
