Michael Saylor Slams Onchain Proof-of-Reserves, Citing Security Risks
Michael Saylor, Executive Chairman of the Bitcoin-focused firm Strategy (formerly MicroStrategy), has criticized the growing trend among institutions to publish onchain proof-of-reserves, warning that it introduces significant security vulnerabilities. Speaking at a side event during the Bitcoin 2025 conference in Las Vegas, Saylor called the practice “a bad idea,” stating ...