On March 15, 2023, Jason Calacanis claimed Bitcoin would be replaced, urging a need for “a better Bitcoin.” This statement drew immediate backlash from Bitcoin advocates, who noted that improvements through layer-2 solutions, like the Lightning Network, could significantly enhance functionality without changing the core protocol.

Many industry leaders defended Bitcoin, asserting that it will not be replaced as a value transfer protocol. Experts highlighted the importance of layer-2 projects in providing use cases for Bitcoin, arguing that the larger the network, the less likely it is for an alternative to emerge.