Borrowed from people and other entities who buy the bonds of course, don't be absurd.
Crypto is a scam, it's not a collectible, and it's not an asset. Collectibles *can* be assets, but most don't stay there. More like a multilevel marketing.
“Borrowed from people and other entities who buy the bonds of course, don’t be absurd.”
And where do the bonds come from then? We can play this game all day long. If anyone is being “absurd” here, I’d say it is the person who thinks that trillions of dollars can just appear on demand without money being created and added to the money supply.
“Crypto is a scam, it’s not a collectible, and it’s not an asset.”
I don’t disagree that it’s a scam, but it’s a scam that, until the fantasy pops, is a fungible asset. You go ahead and try to tell the IRS that crypto is “not an asset”. See how far that gets you with them...
“Collectibles *can* be assets, but most don’t stay there.”
And when *can* they be an asset? Of course, it’s when they HAVE VALUE. Likewise, while crypto HAS VALUE, it is obviously an asset. I notice you didn’t suggest any other place on the balance sheet to put them, so I will take that as a tacit admission that the asset section is in fact where they belong, unless you decide to argue the point further.