Quick Breakdown
- •Majority of institutional investors are unaware or unfazed by the Bitcoin Core vs Knots controversy.
- •All informed respondents expressed support for the Bitcoin Core perspective.
- •Thorn believes the debate poses more risk to perception than to Bitcoin’s underlying technology.
Most institutional Bitcoin holders are either unaware of or indifferent to the heated debate between Bitcoin Core and Bitcoin Knots contributors, a conflict that has stirred controversy within technical and developer communities in recent months, according to Galaxy Digital’s Head of Research, Alex Thorn.
A Debate Over Bitcoin’s Purpose and Blockchain Activity
The dispute stems from the recent Bitcoin Core v30 update, which critics claim could facilitate an influx of non-financial data on the blockchain, potentially attracting spam, facilitating the embedding of illicit content, and compromising network integrity.
i polled more than 25 institutional bitcoin investors we work with
“where do you stand on bitcoin core vs. bitcoin knots”
results:
1) I’m Pro-Core: 18%
2) I’m Pro-Knots: 0%
3) I don’t know / I am ambivalent: 36%
4) I haven’t heard of this at all: 46%the knots supporters are… pic.twitter.com/fTjFntzNyl
— Alex Thorn (@intangiblecoins) November 17, 2025
Supporters of the Bitcoin Knots node implementation argue that filtering out such activity is crucial to prevent possible misuse. Meanwhile, Bitcoin Core contributors insist that restricting transaction types risks fragmenting the network, confusing users, and undermining one of the core principles of Bitcoin: permissionless participation.
Poll Shows Split Awareness but Strong Lean Toward Bitcoin Core
Thorn revealed via X on Monday that he sampled 25 institutional Bitcoin investors within Galaxy’s network. According to the findings, 46% stated that they were unaware of the debate, while 36% claimed they did not care or remained neutral.
Among the remaining respondents, all aligned with Bitcoin Core’s view, suggesting that real-world capital providers do not see the arguments posed by Knots supporters as material risks to Bitcoin. Thorn described the concerns as theoretical at best, and outdated at worst.
He added that these observations align with private conversations he has held with miners, service providers, and even government officials, many of whom reportedly are not paying attention to the issue.
Possible Endgames: Only One Could Harm Bitcoin
Last month, a Bitcoin improvement proposal for a soft fork sparked outrage on X. Thorn outlined three potential outcomes for the ongoing dispute: the debate fizzles out; it becomes irrelevant; the fear-based narrative unintentionally harms confidence in Bitcoin, and consensus-aligned changes gain adoption but ultimately fail to solve their stated concerns.
He warned that the second and third outcomes could negatively impact public perception, potentially limiting long-term adoption of permissionless blockchain systems.