Strategy founder Michael Saylor said Bitcoin is moving from an early belief-driven network to a global digital capital system. In a long post titled "Bitcoin Reform: The Decline of Orthodoxy and the Rise of Digital Capital," he argued that Bitcoin is undergoing a key transition from its founding-era ideology to a modern capital architecture. Saylor said the early "faith-only" view is no longer enough to support Bitcoin’s development as a global digital capital network. He described the core of his "Bitcoin reform" view as follows: Satoshi Nakamoto is the founder, not a prophet; the white paper is a technical foundation, not a final constitution; self-custody is a right, not an obligation; trust should be managed by distinguishing good counterparties rather than fully rejected; and exchange-traded products and corporate equity should not all be labeled "paper Bitcoin." He predicted Bitcoin’s next phase will be a digital capital transformation spanning global equities, fixed income and gold, with Bitcoin evolving from "peer-to-peer electronic cash" into digital capital infrastructure.