I agree. It's almost a de facto etf at this point. He did have ambitions to educate corporations in 2021, but the ridiculous US tax laws really prevented many corporations from adding bitcoin to the treasury. Basically, publicly traded companies have to "mark to market" bitcoin whether or not they sell the asset. Imagine if treasuries were accounted for the same way? Every bank in the country would fail immediately.
This is almost a moot point, FASB officially proposed exact rule changes Saylor has been advocating for last week. Will take effect by year end.
reply
This is good news. Now watch Elizabeth Warren try to prevent it.
reply
Good point on tax treatment. Hopefully this changes over time.
reply