Michael Saylor said Bitcoin has moved far beyond its early stages of niche resistance and has now reached individuals, companies, banks, capital markets and governments.
In a new paper published on
4 camps, 1 network
The four labels are Bitcoin Maximalist, Bitcoin Capitalist, Bitcoin Technologist, and Bitcoin Fundamentalist. They all see value in Bitcoin, according to the paper, but they disagree on how much it should scale, how quickly it should change and how tightly connected it should be to the financial system.
Saylor cast maximalists as people who see Bitcoin as a major digital currency network, a form of sound money, and a shield against inflation and weak currencies.
https://t.co/yeG4PgpjEq
— Michael Saylor (@saylor) June 5, 2026
He also said the group brings moral clarity to Bitcoin while still leaving open questions about how the network fits into banks, public enterprises and governments.
In his view, Bitcoin capitalists are moving in a different direction and want the asset to be embedded in portfolios, balance sheets, credit products, custody systems and market infrastructure.
Saylor described them as the group most comfortable with corporate treasuries, institutional custody, and financial tools built on non-Bitcoin foundations.
protocol pressure point
The technologist camp wants Bitcoin to continue improving on issues such as scalability, privacy, security, wallet design, usability, archiving and future threats such as quantum computing, Saylor said.
He warned that upgrades come with risks because Bitcoin’s base layer partially maintains its value. Because we trust that users will not change it inadvertently.
He draws a hard line against fundamentalists who focus on self-management, private nodes, decentralization, immutability, and censorship resistance.
BTCUSD trading at $60,877 on the 24-hour chart: TradingView
Their concern is that banks, governments, custodians, leverage and financial engineering could distract Bitcoin from the purposes that made it worth defending in the first place.
Amid the broader debate, Strategy, the company led by Saylor as chairman, is under fresh market pressure after rare Bitcoin sales attracted attention last week.
With Bitcoin trading around $60,000 and ETF outflows weighing on sentiment, the company said it sold 32 BTC for about $2.5 million, the first Bitcoin seller since 2022, according to the report.
Can Sailor stop the competition?
Saylor’s paper frames splits as a normal phase of Bitcoin’s growth rather than a sign of failure. His message is that Bitcoin can keep its fundamentals intact while allowing markets, custody services, and new financial products to grow.
Four factions, one coin, and many egos. Sailor calls these growing pains. But with money, politics and principles all clashing, can he actually make them stop fighting? Or does everyone think they are the only ones keeping Bitcoin alive?
Featured image from Unsplash, chart from TradingView
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