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I don't have an answer, but I do have a question. If you funded some amount of crypto as the primary asset into a new company, and then convinced a SPAC to take you public... is that a net gain? We've seen already-public companies buy up crypto, but what about taking a private one public and skipping the "real" business part?
This is one of the worst things a startup can do with their money. I wonder how many will try it just because they want to emulate Tesla.
Not a great thing for Tesla to do. It’s one step away from Google buying Microsoft stock instead of reinvesting it or buybacks.
A better example is the actual case of Microsoft buying Facebook stock to gain exposure to a burgeoning digital network https://www.vox.com/2017/10/23/16412108/facebook-microsoft-2...
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Not a great thing for Tesla to do. It’s one step away from Google buying Microsoft stock instead of reinvesting it or buybacks.
Your analogy brings up an interesting point. A better example is the actual case of Microsoft buying Facebook stock to gain exposure to a burgeoning digital network https://www.vox.com/2017/10/23/16412108/facebook-microsoft-2...
We open source nearly everything we do at https://github.com/hackclub, even our finances. We have deeply appreciated the generosity of the cryptocurrency community.
We have a Coinbase account where we store received crypto. In our books, we log everything in USD and I believe we record our crypto holdings as an asset. This has worked at our current size since we are a small and cash-strapped organization focusing nearly all our efforts on those we serve.
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owning digital currencies is not even remotely "one of the worst things a startup can do with their money". it is not an investment. it is not productive. but it is not a bad idea.
In other words, it's a gamble. And it has terrible effects on the public image of the company if you ask me. If I was a stockholder, that would make me question the long-term stability of the company, if the executive has tendencies towards such behavior.