Strategy founder Michael Saylor published a long essay titled "Bitcoin Reform: The Decline of Orthodoxy and the Rise of Digital Capital," arguing that Bitcoin is evolving from an early network into a global capital system. He says the asset is moving from founding-era beliefs toward modern capital architecture, and that a purely faith-based approach can no longer support the development of a global digital capital network. Saylor’s proposed "Bitcoin reform" treats Satoshi Nakamoto as a founder rather than a prophet, the white paper as a technical foundation rather than a final constitution, and self-custody as a right rather than an obligation. He also argues that trust should not be rejected entirely but managed by distinguishing constructive counterparties, while opposing the blanket description of exchange-traded products, corporate equity and similar financial instruments as "paper Bitcoin."