Michael Saylor Warns Protocol Changes Could Threaten Bitcoin as Asset Grows 100-Fold

According to Michael Saylor on July 28, the MicroStrategy Executive Chairman warned that protocol changes pose the primary threat to Bitcoin's long-term success. In a series of X posts, Saylor maintained that Bitcoin can grow 100-fold and become a foundation of global capital but cautioned that rule modifications could weaken scarcity, security, and economic protections.

Saylor identified concerns over BIP-110, covenant-related features, and larger block proposals as potential risks to the network's ecosystem. He emphasized that Bitcoin's consensus rules form its "constitution" and that governance decisions increasingly impact miners, exchanges, custodians, and institutional investors as block subsidies continue to decline.