Interesting that $MSTR, $TSLA & $SQ, will report Bitcoin as an Intangible asset on their balance sheet. With $BTC gaining compelling investments from companies to add it in their portfolio, should this investment be noted as an intangible asset or a distortion from investors?
The definition of intangible is an asset lacking physical form managed by the corporation that can/will provide future benefits. At first, it seems like a good fit for $BTC, but unlike other intangibles, Bitcoin can be used to manage cash balances by companies.
If a company decides to hold $BTC as cash, should it be reported under working capital or fair value investment like shares, bond holdings etc? Given the volatile nature of $BTC, shouldn't it be considered similar to FX translations to provide a clear view of impact to investors?
