Michael Saylor, executive chairman of Strategy, stated that company audits should be signed by the CFO, CEO, and board of directors, all of whom are legally accountable under U.S. law.

Event date

May 26, 2025

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He argued that the gold standard for a bitcoin treasury company like Strategy is a Big Four auditor verifying both asset ownership and liabilities, ensuring no rehypothecation of bitcoin or hidden obligations and the results should be signed off by a public company's CFO, CEO, and board — all legally accountable under U.S. law — as Strategy does. "It's much better than simply a proof of reserves wallet," he said.

It is the responsibility of the Big Four auditors to ensure the solvency and soundness of the company. The data should be confirmed on multiple levels, including by the custodians and the exchanges. In the case of Strategy, the audits are conducted by KPMG LLP, a Big Four audit company. Furthermore, he emphasized that as an American company, Strategy cannot lie about its finances, as its personnel would face jail time due to the Sarbanes-Oxley Act, which protects investors from inaccurate disclosures and statements.

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Week 22 of 2025