The loss may be unrealized, but it would still be reflected in the market value of the company's assets, just not in the book value. The book value will still r

The loss may be unrealized, but it would still be reflected in the market value of the company's assets, just not in the book value. The book value will still reflect the purchase price, but a massive deviation between book and market value is going to raise due diligence flags. In fact for marketable securities (which Bitcoin could be compared to, for some values of 'marketable' and 'securities'), GAAP requires unrealized gains/losses to be applied to the book value to bring it into line with the market value [1]. [1] https://www.accountingtools.com/articles/what-is-the-difference-between-book-value-and-market-value.html https://www.accountingtools.com/articles/what-is-the-differe...