The Coin Rise 2025-05-27 09:48:12

Michael Saylor Warns Against Institutional Proof-of-Reserves, Community Reacts

Michael Saylor, executive chairman of Bitcoin-focused firm Strategy, has raised serious concerns about the practice of institutions publicly sharing their crypto proof-of-reserves. Speaking at a side event during the Bitcoin 2025 conference in Las Vegas on May 26, Saylor called the widely adopted transparency method “a bad idea.” Saylor was responding to a question from Blockware Solutions’ lead analyst Mitchell Askew, who asked whether Strategy would consider publishing its own proof-of-reserves . While Saylor did not provide a direct answer, he made it clear that he believes the practice is fundamentally flawed. “The current, conventional way to publish proof of reserves is an insecure proof of reserves,” he stated, adding that it weakens the overall security framework by making wallet addresses traceable. A Growing Industry Trend Post-FTX The push for proof-of-reserves gained momentum after the high-profile collapse of crypto exchange FTX in November 2022. In the wake of that event, many crypto firms — including Binance, Kraken, OKX, and Bitwise — began publishing cryptographic proof that they held enough assets to back customer deposits. The goal was to restore trust in the industry and assure users their funds were safe. But Saylor remains unconvinced. He pointed out that these proofs often only demonstrate what a company owns, not what it owes, offering an incomplete picture of its financial health. He also emphasized that publicizing wallet addresses opens the door to serious vulnerabilities. “No institutional-grade or enterprise security analyst would think it’s a good idea to publish all of the wallet addresses,” he said. “Go to AI, put it in deep think mode… it would write 50 pages of security problems.” Saylor: A Bitcoin Maximalist Saylor’s Strategy is currently the largest corporate Bitcoin holder , with 576,230 BTC worth around $62.6 billion, according to BitcoinTreasuries.NET. The company is followed by MARA Holdings, which holds over 48,000 BTC. Globally, more than 110 publicly listed companies have Bitcoin on their balance sheets. While the crypto community continues to debate the merits of transparency versus security, Saylor’s stance signals a cautionary approach. For him, safeguarding digital assets means more than public accountability — it means keeping critical data private. The post Michael Saylor Warns Against Institutional Proof-of-Reserves, Community Reacts appeared first on TheCoinrise.com .

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