Bitcoin for companies
Everything a CFO or a board needs to evaluate Bitcoin as a treasury asset: how to buy and custody it, how it is accounted for under FASB and IFRS, what a treasury policy is and how the companies that already hold it on their balance sheets did it. Execution guides, key concepts and live data, all in one place.
Disclaimer: SatsIntel is for informational purposes only. It is not an authorized crypto-asset service provider (CASP) and does not provide financial, tax or legal advice. Crypto-assets are high-risk assets and may result in the total loss of the invested capital. See the legal terms.
Guides for treasuries and CFOs
The full journey, from how to execute to why.
How to buy Bitcoin for a company
The execution playbook: the treasury policy you need before the first purchase, the two routes (direct custody vs equity exposure), accounting and tax.
Read the guide (in Spanish) →AccountingBitcoin accounting: FASB vs IFRS (and what applies in Spain)
FASB's switch to fair value (ASC 350-60) unlocked the balance sheet in the US. What it means for a European company under IFRS / IAS 38, where Bitcoin remains an intangible at cost less impairment.
Read the guide (in Spanish) →Case studyMicroStrategy's balance-sheet strategy
The case that defined the category: how Strategy turned its treasury into a Bitcoin-accumulating machine using convertible debt and equity issuance. The financial engineering, explained.
Read the guide (in Spanish) →TreasuryProtecting corporate cash from inflation
The silent tax on liquidity: why corporate cash loses purchasing power every year and at what point Bitcoin enters the conversation as a long-term store of value.
Read the guide (in Spanish) →Key concepts
The essential vocabulary before the first board meeting.
FASB rule (ASC 350-60)
US accounting standard that requires Bitcoin to be measured at fair value, recognizing gains and losses through earnings.
See definition →Bitcoin Treasury Policy
Board-approved internal framework defining how, how much and under which rules a company acquires, custodies and reports the Bitcoin on its balance sheet.
See definition →Pristine Collateral
Top-quality collateral: liquid, free of counterparty risk and with no possibility of default. Bitcoin aspires to be the digital pristine collateral.
See definition →Digital Asset Audit
Independent verification of an entity's Bitcoin holdings: their existence, ownership (control of the keys) and valuation.
See definition →Live data
Who already holds Bitcoin on their balance sheet, and through which instruments.
Treasury directory
Every public company holding Bitcoin, with holdings, mNAV and live prices.
Fixed income and yield
Preferred shares and convertibles issued by treasuries (STRC, SATA…) with live yield and price.
mNAV calculator
How much Bitcoin per share each treasury embeds, and at what premium or discount it trades.
Frequently asked questions
Can a company hold Bitcoin on its balance sheet?
Yes. Any company can hold Bitcoin as an asset on its balance sheet, just as it holds cash, financial investments or other assets. More than 180 listed companies worldwide already do, led by MicroStrategy (Strategy). The decision requires a board-approved treasury policy, a custody route and a clear accounting and tax treatment, but there is no general prohibition on a company owning Bitcoin.
How does a company account for Bitcoin?
It depends on the accounting framework. In the US, for fiscal years beginning after December 15, 2024, FASB standard ASC 350-60 requires Bitcoin to be measured at fair value, with gains and losses recognized through the income statement. In Spain and the EU, IFRS / IAS 38 applies: Bitcoin is an intangible asset carried at cost less impairment, which allows losses to be booked but not unrealized gains until the sale. It is the key accounting difference a CFO must understand before buying.
What is a Bitcoin treasury policy?
It is the internal framework, approved by the board of directors, that defines how and how much Bitcoin the company acquires, at what cadence, under which custody scheme, how it is accounted for and who governs it. It is the document that must exist before the first purchase: it turns a one-off decision into an auditable strategy that can be defended before shareholders, auditors and regulators.
Is it legal for a Spanish company to buy Bitcoin?
Yes. There is no legal impediment to a Spanish company acquiring and holding Bitcoin on its balance sheet. What matters is operating with regulated providers (exchanges and custodians registered under anti-money-laundering rules and the European MiCA framework), documenting the decision in a treasury policy and applying the correct accounting and tax treatment under IFRS / IAS 38. This does not constitute legal, tax or financial advice.
How does a company start investing in Bitcoin?
The usual sequence is: (1) approve a treasury policy setting the allocation target, custody and governance; (2) choose the execution route, between direct purchase and custody with a regulated custodian, or indirect exposure via equity and ETFs without self-custody; (3) define the accounting and tax treatment; and (4) execute gradually. Many companies choose a specialized partner so they do not have to build the entire infrastructure from scratch.
Can legal entities buy cryptocurrencies?
Yes. A legal entity —a limited or public company, foundation or any entity with legal personality— can buy and hold cryptocurrencies such as Bitcoin just as it holds cash or other assets on its balance sheet. The correct way to operate is to use regulated providers (exchanges and custodians registered under anti-money-laundering rules and the European MiCA framework), document the decision in a treasury policy approved by the governing body, and apply the accounting and tax treatment required in each jurisdiction. There is no general prohibition on a legal entity acquiring cryptocurrencies; what it requires is proper governance and record-keeping. This does not constitute legal, tax or financial advice.
How are digital assets accounted for in a company?
Digital asset accounting depends on the applicable framework. Under IFRS / IAS 38 —the framework in Spain and the EU— Bitcoin and other cryptocurrencies are recorded as an intangible asset at cost less impairment: losses are recognized, but unrealized gains are not until the sale. In the US, FASB standard ASC 350-60 (effective for fiscal years beginning after December 15, 2024) requires them to be measured at fair value, taking gains and losses through the income statement. That difference in how digital assets are accounted for is decisive for the CFO, because it changes how Bitcoin's volatility shows up in the financial statements.
Is your company considering the move?
SatsIntel is the intelligence platform of Standard 21, the Bitcoin treasury company that supports businesses and family offices in designing and executing their Bitcoin treasury strategy. If your board is evaluating adding Bitcoin to the balance sheet, that is where you will find the context on who is behind these analyses.
Meet Standard 21