On May 27, Michael Saylor stated during the Bitcoin 2025 Las Vegas conference that institutional issuance of on-chain Proof-of-Reserves is not a good idea and may actually undermine asset security. He pointed out: "The currently prevalent Proof-of-Reserves method is insecure and will dilute the security of issuers, custodians, exchanges, and even investors."
Saylor emphasized that publicly exposing wallet addresses could bring long-term tracking risks and provide no actual benefits to institutions. When asked whether Strategy would release a Proof-of-Reserves, Saylor refused to answer directly, only responding: "It's a bad idea," and added that "Standalone reserve information is meaningless unless liability situations audited by the Big Four accounting firms are simultaneously disclosed."
