Public companies like Square and MicroStrategy have been in the news for buying bitcoin. Anyone here work for a startup that owns bitcoin on its balance sheet? How does the company custody and track their holdings?<p>Question is intended for both non-crypto and crypto companies.
At Hack Club, a 501(c)(3) nonprofit that helps teenagers run high school hacker clubs, we accept cryptocurrency donations at <a href="https://hackclub.com/donate/" rel="nofollow">https://hackclub.com/donate/</a>.<p>We open source nearly everything we do at <a href="https://github.com/hackclub" rel="nofollow">https://github.com/hackclub</a>, even our finances. We have deeply appreciated the generosity of the cryptocurrency community.<p>We have a Coinbase account where we store received crypto. In our books, we log everything in USD and I believe we record our crypto holdings as an asset. This has worked at our current size since we are a small and cash-strapped organization focusing nearly all our efforts on those we serve.
I don't have an answer, but I do have a question. If you funded some amount of crypto as the primary asset into a new company, and then convinced a SPAC to take you public... is that a net gain? We've seen already-public companies buy up crypto, but what about taking a private one public and skipping the "real" business part?
You can be exposed to a bitcoin etf or closed fund as well, there's a bunch now and probably more coming out.<p>EBIT, BTCC, GBTC, BTCG, QBTC, BITC<p>Watch out for momentary premiums/discounts on share price though. <a href="https://bitbo.io/" rel="nofollow">https://bitbo.io/</a> for quick calculations.