Learn Bitcoin for corporate treasury
Plain-English guides to holding Bitcoin on the balance sheet: strategy, OTC liquidity, accounting, custody and governance. Written for CFOs, treasurers and boards.
Bitcoin Basics
16 articles
How Bitcoin works, explained for finance teams: keys, transactions, fees, mining and the real risks.
- Seven Bitcoin myths CFOs still hear
- Bitcoin vs other digital assets: why treasuries focus on Bitcoin
- Can governments ban Bitcoin? What history shows
- Can Bitcoin be hacked? Where the real risks sit
- How Bitcoin network fees work and how to budget for them
- How mining secures the Bitcoin network
- How Bitcoin transactions work, for finance teams
- Proof of work explained for CFOs
- Public and private keys explained for companies
- Quantum computing and Bitcoin: a risk assessment
- What is a Bitcoin address? Address types and controls
- What is a Bitcoin node and should a company run one?
- What is a blockchain? The Bitcoin ledger explained
- What is a satoshi? Bitcoin's units and precision
- What is the Lightning Network? A treasury view
- Who created Bitcoin, and why no one controls it
Treasury Strategy
17 articles
Why and how a company holds Bitcoin: allocation, funding, timing and the case for a reserve asset.
- Inflation, cash drag and the corporate Bitcoin case
- Bitcoin as a corporate reserve asset
- Bitcoin-backed lending for companies: uses and risks
- Bitcoin for family offices: allocation and governance
- Bitcoin for foundations and endowments
- Bitcoin treasury FAQ: 20 questions CFOs ask
- Bitcoin treasury for private companies
- What is a Bitcoin treasury strategy?
- Bitcoin vs cash, T-bills and gold as treasury assets
- Corporate Bitcoin case studies: what early adopters did
- Dollar-cost averaging vs lump sum for corporate Bitcoin buying
- Funding a corporate Bitcoin purchase: cash, debt or equity
- How do companies buy Bitcoin? A step-by-step guide
- How much Bitcoin should a company hold?
- What is a strategic Bitcoin reserve for a company?
- Rebalancing and selling corporate Bitcoin
- Why do companies hold Bitcoin on their balance sheet?
OTC & Liquidity
18 articles
How large Bitcoin orders are priced, executed and settled without moving the market.
- Best execution for corporate Bitcoin trades
- 24/7 Bitcoin markets and treasury operations
- What is a Bitcoin block trade?
- How to run a Bitcoin liquidity provider RFP
- Reading Bitcoin market depth and the order book
- Bitcoin settlement windows and cut-off times
- How to choose a Bitcoin liquidity provider
- What a Bitcoin execution report should contain
- What is institutional Bitcoin liquidity?
- OTC vs exchange: executing large Bitcoin orders
- Pre-funding vs delivery versus payment in Bitcoin trades
- Principal vs agency OTC execution for Bitcoin
- How request-for-quote (RFQ) pricing works for Bitcoin
- Selling a large Bitcoin position without moving the market
- Slippage and market impact in Bitcoin trading
- The role of stablecoins in Bitcoin settlement
- TWAP and VWAP execution for large Bitcoin orders
- What is a Bitcoin OTC desk?
Accounting & Tax
16 articles
Fair value under ASU 2023-08, IFRS treatment, cost basis, audit readiness and tax principles.
- ASU 2023-08: fair value accounting for Bitcoin explained
- Bitcoin accounting: impairment vs fair value
- Bitcoin accounting for private companies
- Bitcoin audit readiness: a checklist for finance teams
- Cost basis methods for corporate Bitcoin holdings
- Deferred tax on corporate Bitcoin holdings
- Bitcoin disclosure requirements in financial statements
- Bitcoin and earnings volatility under fair value
- Measuring Bitcoin fair value: principal market and ASC 820
- Internal controls over Bitcoin for finance teams
- Bitcoin journal entries: worked examples
- How Bitcoin appears on the balance sheet
- How Bitcoin is taxed for companies: the principles
- Accounting for Bitcoin transaction costs and network fees
- How Bitcoin is accounted for under IFRS
- Bitcoin under IFRS vs US GAAP: the key differences
- Bankruptcy remoteness: protecting Bitcoin if a custodian fails
- Cold storage explained for corporate treasuries
- Choosing a Bitcoin custodian: a due diligence list
- Bitcoin custody insurance: what is and is not covered
- Bitcoin succession and continuity planning for organisations
- Corporate Bitcoin custody: the options explained
- Writing a custody exit plan
- Hardware security modules (HSMs) in Bitcoin custody
- Key management and signing policies for corporates
- MPC vs multisig: custody models compared
- Multisig Bitcoin custody for companies
- What is proof of reserves?
- Qualified custodian vs self-custody for companies
- Segregated vs omnibus custody accounts
- Settlement and counterparty risk in Bitcoin trades
Risk & Governance
16 articles
Treasury policy, board approval, limits, AML and investor communication.
- AML, KYC and Travel Rule checks to buy Bitcoin for a company
- A Bitcoin board paper template for CFOs
- How to set Bitcoin concentration limits for a company
- Counterparty due diligence for Bitcoin providers
- Cybersecurity for finance teams holding Bitcoin
- Bitcoin investor relations: answering shareholder questions
- Bitcoin regulation for corporates: a global overview
- Building a Bitcoin risk register
- Sanctions screening and blockchain analytics for corporates
- A Bitcoin treasury policy template
- How to write a Bitcoin treasury policy: a sample outline
- Bitcoin treasury reporting: KPIs for the board
- The main risks of a corporate Bitcoin treasury
- Bitcoin on the balance sheet: planning for drawdowns
- How to get board approval for a Bitcoin treasury
- How to communicate a Bitcoin treasury strategy to investors
- Bitcoin and interest rates: what treasurers should watch
- Bitcoin's correlation with equities, bonds and gold
- Bitcoin ETFs vs holding Bitcoin directly
- Bitcoin's 21 million supply cap explained
- Bitcoin futures and options for corporate treasuries
- The Bitcoin halving explained for finance teams
- Bitcoin market cycles: a historical view
- Bitcoin's network effect explained
- What are Bitcoin treasury companies?
- Hedging a corporate Bitcoin position
- How is the Bitcoin price determined?
- A short history of institutional Bitcoin adoption
- What backs Bitcoin?
- What drives the price of Bitcoin?
- What is Bitcoin? A CFO's guide
- What is mNAV? The metric for Bitcoin treasury companies
- Why is Bitcoin volatile?
Glossary
400 terms
Definitions of the terms finance teams meet when dealing in Bitcoin, from block trades and DvP to fair value and multisig. Open the glossary →
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Every engagement starts with a short call about your company, order size, timeline and custody.