Saylor says onchain proof-of-reserves a ‘bad idea’ due to security risks

Michael Saylor, the executive chair of major Bitcoin-buying firm Strategy, formerly MicroStrategy, says institutions posting onchain proof-of-reserves is a “bad idea” that could pose security risks. “The current, conventional way to publish proof of reserves is an insecure proof of reserves,” Saylor said when asked about institutions adopting the transparency measure at a May 26 event on the sidelines of the Bitcoin 2025 conference in Las Vegas. “It actually dilutes the security of the issuer, the custodians, the exchanges and the investors. It’s not a good idea, it’s a bad idea source: https://cointelegraph.com/news/michael-saylor-says-proof-of-reserves-bad-idea?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound