Thanks, Tesla. Corporate America Grapples With Balance Sheet Bitcoin

Thanks, Tesla. Corporate America Grapples With Balance Sheet Bitcoin

"You’re going to see every company in America do the same thing," Mike Novogratz told Bloomberg earlier this week, while speculating wildly about the future of Bitcoin on corporate balance sheets. His comments came after Tesla's disclosure that it bought $1.5 billion in Bitcoin, which is now apparently part of "cash and equivalents" despite sporting volatility that is anything but cash-like. Novogratz is, of course, squarely in the "more cowbell" camp (if you will) when it comes to cryptocur
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One thought on “Thanks, Tesla. Corporate America Grapples With Balance Sheet Bitcoin

  1. Thinking about this issue just a bit it seems that if employees want to be paid in bitcoin that might be OK if salary is expressed solely in those terms. When BTC is down a company can buy spot and save money on salaries. Couple that with a reserve of coin bought in dips, that coin can be used to pay employees at their fixed rate with coins bought when the price was down. It might not take too long for employees to figure some of this out but as long as companies stick to the idea that employees who want to get bitcoin pay, will only get bitcoin salaries, that idea might be a boon for CFOs who learn how to manage properly. After all, paying in stock options offers some of the same opportunities for firms. The best managed firms have been winning in that game for years.

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