Tesla, MicroStrategy and Square are just some of the companies that have recently revealed plans to hold digital assets on their balance sheets.
When MicroStrategy announced its bitcoin purchase, chief executive Michael Saylor observed that macro factors such as the economic and public health crisis precipitated by Covid-19, unprecedented government financial stimulus measures, and global political and economic uncertainty could have a depreciating effect on the long-term real value of fiat currencies and many other conventional asset types.
Intangible asset accounting means you can’t recognise appreciation but you do recognise impairment
Luke Sully, Ledgermatic
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