Under accounting rules, cryptocurrencies are considered intangible assets. A company records the value on its balance sheet at acquisition. But should there be an impairment—like a significant drop in value—the losses are written down on the balance sheet. (Photo by Dan Kitwood/Getty Images)
Cryptocurrencies saw a sharp reversal in selling over the weekend with leading coins rising over double-digit percentage points.
Bitcoin, the world’s largest cryptocurrency by market capitalization, surged 20% higher while Ethereum jumped 18% and Ripple leaped 15%.
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