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On August 25, Michael Saylor, founder of Strategy, published a lengthy article titled 'Bitcoin Reform: The Decline of Orthodoxy and the Rise of Digital Capital,' outlining his views on Bitcoin's evolution from an early network to a global capital system. Saylor believes that Bitcoin is undergoing a crucial transformation from its founding era of belief to a modern capital structure, as the early 'faith-based' approach can no longer support its development as a global digital capital network. He presents the core ideas of 'Bitcoin Reform': Satoshi Nakamoto is a 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 not be entirely dismissed but managed by distinguishing between benign counterparties; and he opposes the blanket labeling of exchange-traded products and company equities as 'paper Bitcoin.' Saylor predicts that the next phase for Bitcoin will be the transformation into digital capital, targeting markets that encompass hundreds of billions of dollars in global equities, fixed income, gold, and other assets, with Bitcoin evolving from 'peer-to-peer electronic cash' into a digital capital infrastructure.

On August 25, Arthur Hayes stated in an interview, "I expect Bitcoin will soon experience a parabolic rise, with BTC's price rapidly climbing to several hundred thousand dollars. Now is the time to hold BTC. Take the opportunity to buy the dips while you still can."

On August 25, Arthur Hayes stated in an interview, "Bitcoin is expected to experience a parabolic rise soon, with BTC's price rapidly reaching hundreds of thousands of dollars. Now is the time to hold BTC. Take advantage while you can and buy the dips."