Saylor says onchain proof-of-reserves a ‘bad idea’ due to security risks

Cointelegraph.com NewsMichael Saylor, the executive chair of major Bitcoin-buying firm Strategy, formerly MicroStrategy, says institutions posting onchain proof-of-reserves is a “bad idea” that could pose security risks.“The current, conventional way to publish proof of reserves is an insecure proof of reserves,” Saylor said when asked about institutions adopting the transparency measure at a May 26 event on the sidelines of the… 

​Michael Saylor, the executive chair of major Bitcoin-buying firm Strategy, formerly MicroStrategy, says institutions posting onchain proof-of-reserves is a “bad idea” that could pose security risks.“The current, conventional way to publish proof of reserves is an insecure proof of reserves,” Saylor said when asked about institutions adopting the transparency measure at a May 26 event on the sidelines of the…