Michael Saylor, chairman of Strategy, opposed the proposed temporary soft fork BIP-110. This initiative is designed to limit the embedding of large amounts of non-financial data into bitcoin transactions. Supporters of the update believe that technical limitations will help effectively combat spam on the blockchain. The proposal sets a strict limit on output and restores restrictions for special operations. This will make it much more difficult to place images and text through protocols such as Ordinals. The authors of the idea plan to activate the update in early August with the support of most miners. It is assumed that the soft fork will operate temporarily to assess its overall feasibility.

Michael Saylor is convinced that the bitcoin network should remain completely neutral to the content of transactions. Processing operations without evaluating data is the fundamental principle of this decentralized system. The businessman believes that even temporary restrictions create an extremely dangerous precedent for future modifications. In his opinion, the soft fork should be used only in case of critical failures or consensus vulnerabilities. These include problems with inflation, verifying signatures, or preventing double spending. The bitcoin code is physically unable to distinguish spam from useful metadata or smart contracts. The entrepreneur emphasizes that there is no clear technical distinction between monetary and non-monetary data.

The head of Strategy respects the desire of the supporters of the update to protect the network, but considers the proposed solution too risky. Bitcoin's true strength lies in containing disagreement through strict and neutral consensus rules. The basic protocol layer should remain as conservative as possible and resistant to any subjective changes. Therefore, Sailor categorically refuses to support the implementation of the controversial BIP-110 soft fork. The previously well-known investor also shared his view on the global market cycles of the first cryptocurrency. He stated that the traditional four-year halving cycle is gradually losing its former significance. Now, the steady growth of the asset depends mainly on capital inflows into spot exchange-traded funds and cryptocurrencies.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.