Bitcoin Core Developers Spark Debate with Proposed OP_RETURN Policy Change
Bitcoin CORE developers are facing significant backlash over a controversial proposal to remove limits on arbitrary data storage in transactions. The suggestion, put forward by French developer Antoine Poinsot, aims to eliminate the OP_RETURN opcode restriction, which currently limits transactions to one OP_RETURN output allowing for 80 bytes of data. This proposal has raised concerns about potential network spam and a perceived shift away from Bitcoin’s original philosophy. Critics argue that such a change could lead to bloated transactions and undermine the network’s efficiency. As the debate intensifies, the cryptocurrency community is closely watching how this development could impact Bitcoin’s future trajectory.
Bitcoin Core Faces Backlash Over Proposed OP_RETURN Policy Change
Bitcoin Core developers are drawing criticism for a controversial proposal to remove limits on arbitrary data storage in transactions. French developer Antoine Poinsot’s suggestion to eliminate the OP_RETURN opcode restriction has sparked concerns about potential network spam and a perceived departure from Bitcoin’s original philosophy.
The current protocol limits transactions to one OP_RETURN output, which allows for 80 bytes of non-payment data. Critics argue that removing this safeguard could flood the blockchain with non-financial data, while proponents view it as enabling more innovation in Bitcoin’s scripting capabilities.
This debate highlights growing tensions between Bitcoin’s scalability priorities and its censorship-resistant ethos. The outcome could significantly impact BTC’s technical roadmap and miner economics.
KULR Technology Expands Bitcoin Holdings, Citing Early Adoption Phase
KULR Technology Group has bolstered its Bitcoin treasury with an additional 42 BTC, bringing total holdings to 716.2 BTC. The energy storage firm’s $69 million accumulation reflects an average purchase price of $96,342 per Bitcoin.
The move follows December 2024’s strategic pivot allocating 90% of surplus cash to BTC reserves. CEO Michael Mo frames this as part of KULR’s embrace of emergent financial technologies, with $12 million cash reserves initially earmarked for Bitcoin acquisition.
"We’re witnessing Bitcoin’s global acceptance in its infancy," Mo noted, positioning the treasury strategy as both a hedge and forward-looking adoption play. The announcement underscores institutional confidence despite Bitcoin’s volatile valuation history.
Bitcoin Miner Riot Platforms Sells $39M in BTC Amid Liquidity Strain
Riot Platforms, the world’s second-largest publicly traded Bitcoin miner, offloaded 475 BTC for $38.8 million in April to shore up liquidity. The sale included the company’s entire monthly production of 463 BTC plus an additional 12 BTC from reserves—a defensive move as mining difficulty spikes 35% year-over-year.
Despite the sell-off, Riot maintains a formidable $1.8 billion Bitcoin treasury. The miner’s average sale price of $81,731 per BTC reflects strategic asset management rather than distress, as the industry grapples with compressed margins from rising energy costs and network competition.
UK Rejects National Bitcoin Reserve Strategy Amid Global Trend
The UK government has explicitly ruled out establishing a national Bitcoin reserve, diverging from a growing international movement toward state-backed cryptocurrency holdings. Economic Secretary to the Treasury Emma Reynolds confirmed the decision during her keynote at the Financial Times Digital Asset Summit on May 6, stating the approach was unsuitable for British markets.
"We understand the US is pursuing this path, but it’s not our plan," Reynolds remarked, referencing former President Donald Trump’s executive order mandating a US Bitcoin reserve. Her comments come as countries like the Czech Republic and Kyrgyzstan explore similar initiatives.
The UK’s stance highlights a strategic divergence in sovereign digital asset policies. While global adoption accelerates, British officials appear focused on private-sector crypto innovation rather than treasury-level accumulation of BTC reserves.
Crypto Market Dips Amid Macroeconomic Uncertainty and Bitcoin Technical Pressures
Crypto markets slipped 0.48% as bearish sentiment spread across risk assets. The downturn mirrored weakness in equities, with the Dow Jones shedding 400 points amid renewed tariff fears. Bitcoin’s correlation to traditional markets remains a key driver of short-term volatility.
Total cryptocurrency market capitalization fell to $2.94 trillion, breaching the psychologically important $3 trillion level. Technical selling pressure compounded the macroeconomic headwinds, creating a perfect storm for the pullback.
Former President Trump’s latest tariff announcements - first targeting movies, then pharmaceuticals - reignited trade war concerns. These developments overshadowed the crypto sector’s fundamental progress, demonstrating how external factors continue to influence digital asset valuations.
