Misunderstanding Sparks Controversy Over Bitcoin Development Funding

Allegations of Michael Saylor's interference in open-source support prove unclear

- Advertisement -
  • Matt Odell claimed Michael Saylor discouraged support for open-source Bitcoin developers.
  • Odell alleged Saylor threatened to “crush” an ETF sponsor if they donated to developers.
  • Jack Dorsey and Samson Mow identified the ETF sponsor as Cathie Woods’ ARK Invest.
  • Mow clarified that Saylor simply shared his opinions, not threats, with ARK Invest.
  • Saylor has not publicly commented on the misunderstanding on social media platforms.

Controversy erupted this week when Ten31 managing partner Matt Odell accused billionaire Michael Saylor of actively discouraging support for open-source Bitcoin developers.

Odell, a fundraiser and board member at OpenSats, one of the largest donors to Bitcoin development, made the claims on the social media platform Nostr.

Alleged Threats and Fears of Corporate Capture

According to Odell, Saylor threatened to “crush” an unnamed ETF sponsor if they followed through on a commitment to donate to open-source developers.

Jack Dorsey and Samson Mow later identified the ETF sponsor as Cathie Woods’ ARK Invest, specifically in relation to its 21Shares spot bitcoin ETF.

Odell and many in the Bitcoin community expressed concern that Saylor, with his massive bitcoin holdings at MicroStrategy, could use his influence to hinder development and innovation that might threaten bitcoin’s status as digital gold.

They worry that corporate interests could stifle the anti-statist ethos of Bitcoin.

Mischaracterization and Moving Forward

However, Samson Mow offered a different perspective on the situation.

He stated that Odell mischaracterized the interaction between Saylor and ARK Invest.

According to Mow, Saylor simply shared his opinions about funding open-source development in relation to the bitcoin ETF, not about funding Bitcoin developers in general.

Mow did not perceive Saylor’s tone as threatening or encouraging corporate capture of Bitcoin development.

Mow emphasized that ARK Invest’s decision to fund or not fund development was their own choice and had little to do with Saylor’s influence.

He called for the community to move on from the drama.

As of now, Michael Saylor has not publicly commented on the misunderstanding on social media platforms like X or Nostr.

The truth behind the alleged threats and their impact on Bitcoin development remains unclear.

LATEST POSTS

- Advertisement -
- Advertisement -
- Advertisement -

Latest

- Advertisement -

Must Read

Read Next
Recommended to you