The crypto market is surging amid rising optimism around a potential second Trump administration. With Bitcoin breaking the $100,000 mark and major U.S. corporations aggressively accumulating digital assets, the financial world is asking: can Taiwan’s publicly traded companies follow suit? As regulatory winds shift and accounting standards evolve, a new era for corporate Bitcoin investment may be on the horizon.
👉 Discover how global companies are turning Bitcoin into a strategic reserve asset.
Trump’s Pro-Crypto Agenda Sparks Market Optimism
Donald Trump’s return to the political spotlight has ignited what analysts are calling the “Trump Trade” — a market phenomenon where investor sentiment shifts in anticipation of policy changes. This time, the spotlight is on cryptocurrency.
1. Bitcoin as a Strategic Reserve Asset
One of Trump’s most talked-about campaign proposals is the idea of including Bitcoin in U.S. strategic reserves. While not official policy yet, this vision has gained traction through allies like Senator Cynthia Lummis (R-WY), who plans to introduce legislation in the new Congress to sell part of the Federal Reserve’s gold holdings and use the proceeds to purchase Bitcoin.
Though the proposal faces significant hurdles — including strong opposition from traditional fiscal conservatives and regulatory skeptics — its mere existence signals a major shift in how digital assets are perceived at the highest levels of government. If passed, such a move could trigger a domino effect globally, with other nations reconsidering their own reserve compositions.
2. Regulatory Relief for Financial Institutions
Another key development is the renewed push to repeal SAB 121, an SEC staff accounting bulletin that requires banks offering crypto custody services to record client-held digital assets on their balance sheets. This rule has been widely criticized for discouraging traditional financial institutions from entering the crypto space due to increased capital requirements and regulatory risk.
Despite bipartisan support in both the House and Senate, President Biden vetoed the repeal in June 2024. However, with a potential change in administration, there's growing confidence that SAB 121 could be overturned — opening the floodgates for banks to offer secure crypto custody solutions.
3. Leadership Shift at the SEC
Perhaps the most immediate catalyst for market enthusiasm is the anticipated leadership change at the U.S. Securities and Exchange Commission (SEC). Gary Gensler, often labeled the “crypto industry’s public enemy,” has announced he will step down upon Trump’s inauguration.
In his place, Trump has nominated Paul Atkins — a former SEC commissioner known for his pro-innovation and market-friendly stance — to lead the agency. This shift signals a likely pivot from aggressive enforcement toward a more balanced regulatory framework, boosting investor confidence across the blockchain ecosystem.
U.S. Public Companies Embrace Bitcoin as Corporate Treasury Strategy
With favorable regulatory winds and evolving accounting rules, American public companies are increasingly treating Bitcoin as a legitimate treasury asset.
MicroStrategy Leads the Charge
No company exemplifies this trend more than MicroStrategy (MSTR). Since 2020, the business intelligence firm has transformed its balance sheet by acquiring over 250,000 BTC, primarily funded through debt offerings. In November alone, it invested $4.6 billion into Bitcoin.
The results have been staggering: MicroStrategy’s stock has surged over 600% year-to-date — outpacing even tech giants like NVIDIA and TSMC. Investors aren’t just betting on Bitcoin’s price; they’re rewarding corporate conviction and long-term strategy.
A Growing List of Corporate Adopters
Inspired by MicroStrategy’s success, other public firms are following suit:
- Solidion Technology, a U.S.-listed battery materials company, announced in November it would allocate most of its excess cash reserves to Bitcoin purchases.
- Unitronix, a blockchain-focused tech firm, revealed plans to invest heavily in Bitcoin and diversified crypto assets.
- Genius Group, a Singapore-based AI education company, committed 90% of its capital to Bitcoin acquisition.
- Banzai, a marketing technology firm, received board approval to hold Bitcoin as a reserve asset.
This emerging trend — sometimes referred to as the “Bitcoin treasury movement” — reflects a broader rethinking of how companies manage idle cash in an era of persistent inflation and low yields.
👉 See how leading firms are redefining corporate treasury strategies with digital assets.
New Accounting Rules: Fair Value Recognition Boosts Transparency
A critical enabler of this corporate shift is a landmark change in U.S. accounting standards.
Effective in 2025 (with early adoption permitted), the Financial Accounting Standards Board (FASB) now requires companies to report cryptocurrency holdings at fair value, with unrealized gains and losses reflected directly in financial statements.
Why This Matters
Previously, under older guidance, companies could recognize losses if crypto prices fell but were prohibited from recording gains when prices rose — creating a one-sided accounting treatment that discouraged investment.
Now, with full mark-to-market accounting:
- A company buying Bitcoin at $100, seeing it rise to $110, can recognize a $10 gain.
- Conversely, if the price drops to $90, a $10 loss must be recorded.
While this increases earnings volatility, it also provides greater transparency and aligns incentives for management teams to treat crypto as a real asset class.
KPMG audit partner Meilin Wang notes: "Fair value reporting removes a major accounting barrier. When Bitcoin appreciates, it shows up on the income statement — making it more attractive for performance-driven executives."
Could Taiwan Follow Suit?
While U.S. firms embrace crypto-friendly policies, Taiwan’s listed companies remain cautious — largely due to differences in accounting treatment.
Current IFRS Framework vs. Local Implementation
Taiwan follows International Financial Reporting Standards (IFRS), which classify cryptocurrencies as either intangible assets or inventory. Most local firms treat them as intangible assets under the cost model — meaning:
- Losses are recognized when prices fall.
- Gains are generally not recognized until disposal.
- Reversals of impairment are allowed only up to original cost.
For example:
- Buy at $100 → drop to $90 → record $10 loss.
- Rise to $110 → no gain recognized unless sold; only $10 recovery (back to cost) can be reflected.
This contrasts sharply with the new U.S. GAAP standard, where both gains and losses flow directly into earnings.
Regulatory Hurdles and Future Prospects
Meilin Wang explains: "Taiwan’s approach mirrors the old U.S. system but with stricter constraints. Without clear regulatory encouragement or tax guidance, most listed firms will hesitate."
Currently, only a few Taiwanese companies hold crypto — mainly for operational reasons like mining or product testing — and positions remain small.
However, if regulators like the Financial Supervisory Commission (FSC) signal openness — perhaps by allowing fair value accounting or clarifying tax treatment — corporate interest could surge rapidly.
Frequently Asked Questions (FAQ)
Q: Can Taiwanese companies currently report crypto gains in their financial statements?
A: Generally no. Under current IFRS implementation in Taiwan, only impairment losses are recognized; unrealized gains are not reflected unless assets are sold.
Q: What would need to change for Taiwan to adopt fair value accounting for crypto?
A: The FSC or Accounting Research and Development Foundation would need to amend local interpretations of IFRS to permit revaluation models for crypto assets.
Q: Is investing in Bitcoin risky for corporations?
A: Yes. While some view Bitcoin as digital gold or an inflation hedge, its price volatility poses financial reporting and liquidity risks that require careful risk management.
Q: How does leverage affect corporate Bitcoin strategies?
A: Companies like MicroStrategy use debt financing to amplify exposure. While profitable in bull markets, this increases risk during downturns and requires strong cash flow support.
Q: Will more U.S. firms adopt Bitcoin treasuries in 2025?
A: Likely yes. With fair value accounting starting in 2025 and potential regulatory relief, more firms may view Bitcoin as a viable alternative to low-yielding cash reserves.
Q: Could central banks adopt Bitcoin like gold?
A: Not imminently. While some advocate for BTC as a reserve asset, widespread adoption faces political, technical, and monetary policy challenges.
👉 Explore how institutional adoption is reshaping the future of finance.
Final Outlook: A Global Shift in Corporate Asset Strategy?
The confluence of political support, regulatory evolution, and updated accounting standards is creating fertile ground for Bitcoin adoption among public companies. While Taiwan lags behind the U.S. due to conservative regulatory interpretation, growing global momentum may eventually pressure local authorities to reconsider their stance.
For now, the message from Wall Street is clear: Bitcoin is no longer just a speculative asset — it's becoming a legitimate component of corporate treasury strategy.
As macroeconomic conditions evolve and digital assets gain legitimacy, one thing is certain: the conversation around corporate crypto holdings is only beginning.