Michael Saylor Warns BIP-110 Protocol Changes Pose Major Risk to Bitcoin

Michael Saylor, co-founder of MicroStrategy, has warned that proposed BIP-110 protocol changes represent the most significant internal risk to Bitcoin's stability and core value. Alongside these technical concerns, Saylor declared the end of Bitcoin's traditional four-year cycle, noting that institutional capital flows now outweigh the historical impact of halving events. He specifically emphasized the role of banks and digital credit as the primary drivers of current Bitcoin capital inflows. Furthermore, the report revealed a strategic pivot in MicroStrategy's financing approach, shifting focus toward Stretch (STRC) funding over traditional stock issuance. According to Saylor, Bitcoin has successfully won the 'global narrative war,' transitioning into a mature financial asset. Analysts are now closely monitoring how the developer community addresses protocol risks while the asset integrates further into the global financial system.