Bitcoin Advocate and Strategy (formerly Micro Strategy) Executive Chairman Michael Saylor called this approach a “bad idea.”
Michael Saylor: “Reservation Guarantee Chain Threats Corporate Security”
“The traditional way to issue today’s proof of preparation is actually unstable,” Saylor said at a side event at the Bitcoin 2025 conference in Las Vegas.
“This method is to undermine the security of issuers, managers, exchanges and investors. This is not a good idea. On the contrary, it is a bad idea,” he said.
Saylor refused to directly address the question of Blockware Solutions principal analyst Mitchell Askew about whether the strategy publishes its own reserve proof.
“Public wallet addresses put your company’s security at risk.”
Cryptocurrency exchanges and ETF issuers have begun publishing their reserves, particularly after the collapse of FTX in 2022, to ensure transparency and show that user assets are indeed available.
However, Saylor argued that the practice provided one-way transparency and emphasized that it only showed its liabilities, that is, assets held by the company, not its liabilities.
Saylor also left the wallet’s public address openly open to the cyber attacks, adding, “I asked the AI and added, ‘How does publicizing all wallet addresses compromise the security of the company?” It poses a security risk of 50 pages. ”
The strategy is currently the world’s largest institution, Bitcoin holder, with 576,230 bitcoins. The company’s reserves are worth approximately $62.6 billion. It is followed by mining company Mara Holdings, which features 48,137 bitcoins.
Today, more than 110 publicly traded companies around the world hold Bitcoin on their balance sheets. However, according to Saylor, not all practices in the name of transparency, particularly methods such as Onchain Proof of Reserve, are consistent with the fundamental principles of corporate security.
*This is not investment advice.
