Strategy founder and executive chairman Michael Saylor argues that Bitcoin is evolving from an early peer-to-peer network into a global digital capital system. In an essay published on Aug. 25, titled "Bitcoin Reform: The Decline of Orthodoxy and the Rise of Digital Capital," and also referred to in earlier coverage as an X post titled "The Bitcoin Reformation," Saylor says Satoshi Nakamoto should be viewed as a founder rather than a prophet, the white paper as a technical foundation rather than a final constitution, and self-custody as a vital right rather than a universal obligation. He says Bitcoin can coexist with banks, governments and fiat currencies, while exchange-traded products, corporate equity, debt, credit products and derivatives can connect the asset to global capital markets without equating to direct ownership. His argument landed against a sharp rally in which Bitcoin gained roughly 23%–24% over about a week—its best run since 2023 and largest weekly increase in more than three years—pushing above $80,000 to a three-month high on August 25, briefly past $81,000 before later trading near $79,000–$79,012, recovering about 38% from a July low near $57,700 and erasing losses since May while remaining roughly 36% below its all-time high of $126,080. Altcoins lagged the breadth of that move: Ethereum led with about a 30% weekly gain to above $2,500, but Total3 cooled near $753 billion and was down on the week, Total2 pulled back near $1.05 trillion after briefly reclaiming $1 trillion, and Bitcoin dominance climbed toward about 61% before easing near 59%, while the CoinMarketCap Altcoin Season Index sat at 46, well below the 75 threshold that defines altcoin season. Catalysts include a U.S. Treasury plan announced August 19 to double longer-dated bond buybacks from $2 billion to $4 billion per operation from September 9, strongest-since-October-2025 spot Bitcoin ETF weekly net inflows of about $1.92 billion between August 17 and August 21, broader crypto-product inflows above $2.6 billion, President Donald Trump’s White House meeting with crypto executives and push for the Clarity Act, and a short squeeze that liquidated more than $2 billion to more than $4 billion in bearish positions, with Bitget Wallet research analyst Lacie Zhang estimating more than $4 billion in crypto shorts over two to three days. On August 24, Binance recorded more than $470 million in net USDC inflows, and U.S. spot Bitcoin ETFs added another $337.6 million on Aug. 25. A sustained break above $80,000 could open a path toward $82,000–$87,000, with $75,000–$76,000 as a main pullback zone, while the Senate is scheduled to revisit the Clarity Act in mid-September; traders are also focused on ETF-flow persistence, USDC deployment, July PCE, CFTC crypto-margin guidance and Thailand’s spot Bitcoin and ether ETF consultation.