Cryptocurrency / Bitcoins

Bitcoin is a virtual monetary unit and the strongest cryptocurrency on the global market.

The accounting and valuation of bitcoins is not entirely obvious. How are bitcoins to be recognised and valued according to the position of EXPERTsuisse (Swiss Accounting Standards Board)? EXPERTsuisse distinguishes between bitcoins held on a short-term and long-term basis. 

Bitcoins held on a short-term basis are recognised under "Securities", "Other current assets with market price" or under "Inventories" (if they are actively traded in the course of ordinary business activities). Bitcoins held on a long-term basis are recognised under "Financial assets" or "Intangible assets". 

Bitcoins are measured at acquisition and/or production cost, at the observable market price or at the observable market price less fluctuation reserves (if the market value is higher than the acquisition cost). The chosen method must be disclosed in the notes.