2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 396.31

-0.6%

Dec 31 4:00 PM EST

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To: TobagoJack who wrote (168354)	2/11/2021 7:32:58 AM
From: sense	Read Replies (1) of 218879

Musk's move into bitcoin is a bit more nuanced than "I like bitcoin" I think. It's accounting treatment requires that it is not a tangible asset... but an intangible asset. TSLAs latest SEC filings note it is equivalent as other intangibles, like goodwill. Since its status as "money" is also "experimental" at best, and thus as ephemeral as other intangible assets are, its accounting treatment also does not allow it to be considered as money. By highlighting that circumstance TSLA raises some interesting questions: If they sell cars for bitcoin, and bitcoin is not money, and it is not a tangible asset... in the accounting treatment... what does that do to the tax treatment ? I suspect the IRS might have a different view of it than the PCOAB... and won't bat an eye at challenging their view... but that doesn't mean that there won't be clever lawyers who can figure out, o rhave figured out, how that bitcoin interest will modify their tax liabilities in other ways than converting bitcoin denominated income into "hey, that can't be income... because its not even money".

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