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Does Steak-n-Shake Keep the Sats as Treasury Assets or Exchange Immediately?
111 sats \ 5 comments \ @spiderman 1 Aug bitcoin
Basically, the title.
Recently I read somewhere (but lost the link) they convert it to USD immediately via some exchange, but curious if someone has any more specific information about it?
And related, why are some companies going head over heels to acquire BTC as treasury asset, but refuse to accept it from their customers as a medium of exchange?
Whereas SnS seems to be doing the opposite?
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0 sats \ 0 replies \ @LibertasBR 1 Aug
I looked at the Holding's reports; nothing about Bitcoin is mentioned, and following accounting standards, everything is expressed in a single currency: the dollar. It's not even mentioned in assets, which is how I imagine the holding company might express Bitcoin if they were to hoard it. Most likely, they receive it in sats and convert it into fiat, since Speed isn't a Bitcoin-only wallet.
Ideally, the report will be entirely expressed in bitcoin in the future so we can begin to take this type of adoption seriously. Their first step is certainly very interesting and worthwhile.
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0 sats \ 0 replies \ @bitcoingecko 1 Aug
I think I heard it's up to each store owner to decide
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0 sats \ 2 replies \ @028559d218 1 Aug
Tax accounting is currently too complicated
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10 sats \ 1 reply \ @DarthCoin 1 Aug
It is not if the accountant is a smart guy and consider btc as simply cash money. Is right there explained.
People must also make difference between legal tender, currency, money, because are not the same.
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0 sats \ 0 replies \ @028559d218 1 Aug
People in the US are lucky that steak n shake exists at all unfortunately
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