The title of our case study is “Should we embrace Crypto?” and it is written by Charles Wang.

By the title itself, the case study is about whether Ivory Tower invested or not invested its cash
reserves in cryptocurrency and whether should they or should not integrate the usage of Bitcoin
in payments of tuition fees. The Ivory Tower is the world’s leading online education platform
that offers high-quality college and graduate school courses to students around the world. To
give you information about the subject matter. Let me define cryptocurrency, cryptocurrency is a
type of currency that exists entirely online. It does not have an actual physical form but exists in
a blockchain on a server. Bitcoin is designed to combat inflation which is why it is often called a
deflationary asset. Thorsten Konig the CEO of the said company is pushing to integrate the use
of Bitcoin in doing business. As to Ankit Jain the Chief Financial Officer, he was hesitant about
this new venture that Thorsten wants to undertake. Ankit knew that investing in Bitcoin is more
complicated compared to other kinds of investments. Bitcoin was highly volatile making it a
more speculative stock. Accepting payments in bitcoin is tedious and costly because they need to
employ an internal capability that supports Bitcoin or they can hire third parties to handle the
transaction. Aside from that there is no regulation that controls Bitcoin. According to the
American Institute of Certified Public Accountants, bitcoin isn’t considered cash or cash
equivalent, inventory, or other financial instruments. Also integrating Bitcoin will make the
financial reporting of the company harder because there is no generally accepted accounting
principle that governs bitcoin. Now Ankit Jain is thorned between in supporting or not
supporting Thorsten Konig.