Michael Saylor, co-founder of Strategy, has ignited a debate about Bitcoin proof-of-reserve (PoR) by arguing against its implementation in the crypto industry. This stance, shared at the Bitcoin 2025 Conference, suggests that publishing reserve data exposes companies to significant security risks. Saylor’s reasoning centers on the potential for malicious actors to leverage this information and disrupt the sector. He cites historical examples of exchanges like FTX and Mt.Gox as evidence for caution. 🤔 Saylor emphasizes that even if Strategy publicly discloses its Bitcoin holdings, this doesn’t provide a comprehensive financial picture. This is because it wouldn’t showcase debt obligations, loans, or other crucial financial information that investors may rely on for accurate assessments of the company’s true financial health.