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https://news.ycombinator.com/item?id=28936340 https://news.ycombinator.com/item?id=28936340 > No, Bitcoin and other cryptocurrencies in the US are booked as in
by kinghajj 5y ago
https://news.ycombinator.com/item?id=28936340 https://news.ycombinator.com/item?id=28936340
> No, Bitcoin and other cryptocurrencies in the US are booked as indefinitely lived intangibles.
> That means that if the asset falls below their most recently booked price at any point in the quarter, they are required to book an impairment charge in the amount of the drop. If it goes up, they cannot book the profit until they sell.