From Cointelegraph
May 27, 2025 12:26 am:

Michael Saylor, executive chair of Bitcoin-buying firm Strategy, dismisses onchain proof-of-reserves as a security risk. He believes publishing wallet addresses could compromise security for issuers, custodians, exchanges, and investors. Proof-of-reserves gained popularity after FTX collapse, but Saylor argues it only shows assets, not liabilities. Strategy holds 576,230 Bitcoin worth $62.6 million.

Proof-of-reserves are common among crypto exchanges to verify sufficient reserves. Saylor warns against publishing wallet addresses due to security risks. FTX collapse prompted industry adoption of proof-of-reserves, but Saylor argues it doesn’t show liabilities. Strategy holds the most corporate Bitcoin, followed by MARA Holdings. Over 110 companies worldwide hold Bitcoin.

Read more at Cointelegraph: Saylor says onchain proof-of-reserves a ‘bad idea’ due to security risks