At Bitcoin 2025, MicroStrategy Chairman Michael Saylor stated that he would not disclose the company's wallet address.
While he cited security reasons, this refusal sparked strong backlash from industry critics.
Michael Saylor Advocates for Privacy at Bitcoin 2025
On May 26th at the Bitcoin 2025 Conference, MicroStrategy's Chairman Michael Saylor firmly stated that he would not disclose the company's BTC wallet address. This stance drew criticism from transparency advocates and crypto influencers.
Saylor compared disclosing the company's wallet to "revealing a bank account and a child's phone number". He argued that this would expose MicroStrategy to hackers and "every imaginable type of troll".
On stage, he gave a lengthy response, describing Proof of Reserves (PoR) as a "crypto trick", explaining that it creates unnecessary risks for institutional holders without considering liabilities.
[The rest of the translation follows the same professional and accurate approach, maintaining the specific crypto-related terms as instructed.]"The current typical method of proof of reserves disclosure is an unsafe proof of reserves. Enterprise or corporate security analysts would not think that revealing wallets is a good idea," Saylor claimed.
This letter criticized that Tether did not conduct an audit to prove that USDT stablecoin is backed 1:1 by US dollars. This has not been achieved despite a promise that has been made for almost 10 years.
