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Ask HN: Any startups here own Bitcoin (and digital assets)?

• deleted 6y ago
  [deleted]
• derivagral 6y ago
  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?
  • quickthrower2 6y ago
    How complex can we make the scam eh!
  • bigbossman 6y ago
    If that's the case, it's similar to owning any kind of asset, such as cash & equivalents, marketable securities, real estate, etc.
• doggosphere 6y ago
  You can be exposed to a bitcoin etf or closed fund as well, there's a bunch now and probably more coming out. EBIT, BTCC, GBTC, BTCG, QBTC, BITC Watch out for momentary premiums/discounts on share price though. https://bitbo.io/ https://bitbo.io/ for quick calculations.
• deleted 6y ago
  [deleted]
• superbcarrot 6y ago
  This is one of the worst things a startup can do with their money. I wonder how many will try it just because they want to emulate Tesla.
  • quickthrower2 6y ago
    Not a great thing for Tesla to do. It’s one step away from Google buying Microsoft stock instead of reinvesting it or buybacks.
    • bigbossman 6y ago
      Your analogy brings up an interesting point. A better example is the actual case of Microsoft buying Facebook stock to gain exposure to a burgeoning digital network https://www.vox.com/2017/10/23/16412108/facebook-microsoft-2007-investment-market-cap-chart https://www.vox.com/2017/10/23/16412108/facebook-microsoft-2...
      • cercatrova 6y ago
        Microsoft also bought Apple stock to bail them out when they were struggling back in the early 00s.
  • tor11 6y ago
    owning digital currencies is not even remotely "one of the worst things a startup can do with their money". it is not an investment. it is not productive. but it is not a bad idea.
    • throwaway2a02 6y ago
      In other words, it's a gamble. And it has terrible effects on the public image of the company if you ask me. If I was a stockholder, that would make me question the long-term stability of the company, if the executive has tendencies towards such behavior.
      • 6y ago
• randomopining 6y ago
  STX is looking pretty solid. You can stake out for 8-15% APY in 2 week stints for BTC. Would not be bad as a way to store capital.
• zachlatta 6y ago
  At Hack Club, a 501(c)(3) nonprofit that helps teenagers run high school hacker clubs, we accept cryptocurrency donations at https://hackclub.com/donate/ https://hackclub.com/donate/. We open source nearly everything we do at https://github.com/hackclub https://github.com/hackclub, even our finances. We have deeply appreciated the generosity of the cryptocurrency community. 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.