1. Security Risks

He believes publishing wallet addresses or showing on-chain reserves exposes them to hacking attempts, social engineering, or government pressure.

He compared it to “posting your children’s bank accounts online.”

2. Proof of Reserves Alone Is Incomplete

Saylor argues that showing assets without also showing liabilities can be misleading.

“It’s not a full picture. A company could show a lot of BTC but owe more than it holds.”

3. Regulated & Audited Financials Instead

MicroStrategy is a public company audited by KPMG and governed by strict U.S. laws (like Sarbanes-Oxley).

He says this is a better system of accountability than crypto-native proofs.

4. Alternative Technologies May Be Better

Saylor has mentioned zero-knowledge proofs (ZK-proofs) as a possible future option — where you can prove ownership of reserves without exposing exact wallet addresses.