The risk of bitcoin on a public company's balance sheet

, companies can mark digital assets to market. IFRS is used in Canada and Europe and lots of other places, just not the biggest crypto market on Earth: the U.S.recently. As a Canadian company, it updates the value of its bitcoin holdings based on the market every quarter.The directive for public companies to treat cryptocurrency as an intangible asset comes from the U.S. Securities and Exchange Commission, which is relying on the standard setting body, the Financial Accounting Standards Board .

"There's an old saying: Don't let bad accounting get in the way of a good investment decision," Veith said.

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