Michael Saylor Says Bitcoin Has Won-but Warns Its Biggest Threat Comes From Within

Michael Saylor, executive chairman of Strategy, stated that the greatest risk to Bitcoin comes from within its own ranks, pointing to the controversial BIP-110 proposal. This soft fork initiative seeks to limit arbitrary data in transactions, a change in consensus rules that Saylor classifies as a direct threat against the network’s security and fee market. On the other hand, data from the firm Arkham confirmed that Strategy paused its BTC acquisitions for the fifth consecutive week, accumulating instead a strategic reserve of $3.75 billion in cash.

Bitcoin has won. Now it must survive victory.

Its gravest threat is not an enemy at the gates, but corruption from within: factions that invent pretexts, rewrite the rules, and seize economic rights until freedom becomes permission and law becomes loot.

- Michael Saylor (@saylor) July 28, 2026

The technical dispute arises at a delicate moment for the company and the market. With the price of Bitcoin hovering around $63,817, the firm’s corporate holdings face paper losses close to $9.9 billion. Additionally, the sale of shares to fund its dividend coverage occurs while the MSTR stock price records a 76% drop from its highs. Financial pressure demands immediate liquidity as the BIP-110 activation window scheduled for August approaches.

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