Michael Saylor, chairman of the director of a company dealing with the poop of Bitcoins, earlier Microstrategy, claims that institutions publishing evidence of reserves is a “bad idea” that can be a risk of security.
“The current, conventional way of publishing proof of reserves is uncertain proof of reserves,” said Saylor when asked about institutions adopted by transparency institutions during the event on May 26 off the beaten track of the Bitcoin 2025 conference in Las Vegas.
“In fact, it weakens the security of the issuer, carers, stock exchanges and investors. This is not a good idea, it’s a bad idea.”
Saylor did not answer whether the strategy would publish her reserve he asked Author: Blockware Solutions, Mitchell Askew chief analyst or his company will do it.
I asked @Saylor If @Microstrategy has some plans to publish proof of reserves in the chain
His answer is shocking you
“It’s a bad idea.”
– safety risk
– irrelevant without having vast 4-listened obligationsCheck it 👇 pic.twitter.com/tixuckgbep
– Mitchell ✝️🇺🇸 (@mitchellhodl) May 27, 2025
Proof of reserves is common among cryptocurrency exchanges and check if the company has sufficient cryptographic reserves to cover customer deposits. They can also confirm that other entities, such as cryptocurrency trade funds, have the required cryptocurrency amount for funds.
Saylor admitted that the industry had to learn a lot from ftx and MT cryptocurrency breakdowns. Gox, but said that evidence of reserves is not the right means to undertake institutions.
“No institutional security analyst or enterprise would have thought that it is a good idea to publish all the portfolio addresses, so that you could trace back there.”
“Go to artificial intelligence, put it in deep thinking mode, and then ask” what are the safety problems of issuing the portfolio addresses? ” And “how can you undermine the security of your company,” said Saylor, adding that he would write “50 pages of security problems”.
Proof of reserves more and more often received after the fall of FTX
Many cryptocurrency exchanges, employed and issuers of the stock exchange fund began to publish their reserves after the fall of FTX in November 2022 in order to determine transparency and prove that they have sufficient assets to support customer deposits.
Related: 4020 bitcoins strategic bags, because the price breaks briefly $ 110,000
Crypto Exchanges Binance, Kraken and OKX and Crypto Asset Manager Bitwe They belong to industry players who have adopted a measure of transparency.
However, Saylor noticed that the proof of reserve often shows only one page of the image-what the company has-and not what is guilty.
Saylor’s strategy is the world’s largest corporate owner of Bitcoins, from 576 230 bitcoins worth $ 62.6 million in the balance sheet, and then the Bitcoin Mara Holdings mining company, which has 48 137 bitcoins, According to for bitcointreasuries.net.
Over 110 companies listed around the world have purchased and kept Bitcoin.
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