Strategy founder Michael Saylor has sparked controversy with his surprising comment on ‘proof-of-reserves.’ A viral video shows Saylor calling exchanges and companies publishing on-chain proof-of-reserves a ‘bad idea,’ igniting a heated debate on the X platform. Saylor Thinks Publishing Proof of Reserves Is Not Good Earlier today, Bitcoin proponent and analyst Mitchell shared a thread on his official X page, revealing Michael Saylor’s approach to proof-of-reserves. During a May 26 event related to the Bitcoin 2025 conference in Las Vegas, Michael Saylor stated, referring to proof-of-reserves, “It’s a bad idea.” Significantly, Michael Saylor’s skepticism on the idea is primarily driven by its potential limitations and risks. According to the MicroStrategy founder, by publishing the proof-of-reserves, the companies are exposing themselves to security threats and other vulnerabilities. He posited, The current, conventional way to publish proof of reserves is an insecure proof of reserves. It actually dilutes the security of the… Read More at Coingape.com
The post Michael Saylor Says Proof Of Reserves Is A Bad Idea, Community Calls It A Red Flag appeared first on CoinGape.
