Balance Sheet Bitcoin
BTC recorded as an asset on a company's balance sheet.
Definition
Balance Sheet Bitcoin refers to Bitcoin carried as an asset on a company's balance sheet. Under FASB ASC 350 rules (effective in the US since 2025), companies can mark their BTC to fair value, recognizing unrealized gains and losses in earnings. This was a substantial change from the previous standard, which only allowed losses to be recognized. The BTC balance sheet is the core of the treasury model: the more BTC a company accumulates, the larger its NAV in BTC and the greater the long-term wealth of its shareholders.
In Context
Strategy has reported its BTC at fair value since adopting the new FASB rules in 2025.
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