Strategy’s Saylor Compares Bitcoin Consensus to a Constitution and Warns of Internal BTC Threats

Strategy co-founder Michael Saylor has published a detailed statement on threats to bitcoin. We break down what crypto market participants need to know.

Michael Saylor called bitcoin’s (BTC) greatest risk not external enemies but internal factions trying to rewrite consensus rules. In his view, bitcoin’s consensus rules are its constitution–they define property rights, scarcity, settlement, and power distribution.

Rewriting those rules for any group’s convenience violates the economic rights of all participants. Hot topic: Saylor’s Strategy Is Cracking — Industry Figures Say the Bitcoin Model Has Run Its Course The statement comes as the signaling window for BIP-110 approaches.

The proposal would limit arbitrary data in transactions. The window opens around August 9.  Bitcoin has won.