Crypto currencies are fast becoming a regular balance sheet item with many individuals as well as corporates interested in diversifying their portfolios. A good example being Business Intelligence (BI) application software vendor, MicroStrategy‘s investments in Bitcoin. Before we start discussing how to treat crypto assets in your company’s financial statements, it’ll be useful to have a think about the basics. Here is our article that speaks about some basic crypto concepts.
The term crypto currency was first coined in 1998 but the concept of digital cash came into being in the 80s. It has become a familiar word worldwide in the last decade. It was created accidentally by an unknown inventor known by the pseudonym Satoshi Nakamoto which leads us to think that it was a Japanese discovery. The name is a clear give away. The idea behind this invention was to build a decentralized digital cash system opposed to the physical or fiat money. Crypto curr