Saylor Warns Against On-Chain PoR for Institutional Crypto, Raises Security Concerns

Michael Saylor, CEO of MicroStrategy (now Strategy), has issued a critical warning about the use of on-chain Proof-of-Reserves (PoR) by institutions in the cryptocurrency industry. At the Bitcoin 2025 conference, he argued that publicly disclosing wallet addresses as PoR presents significant security risks and undermines user trust. This stance challenges the prevailing trend towards increased transparency and raises crucial questions about how to balance security with public accountability for institutional crypto holdings.