I was wondering, how does cryptocurrency (in this case Bitcoin) threat accountancy profession? I mean what type of accounting treatments even are there for crypto?
I don't think it's a threat for them. There will just have a great adjustment, like doing entries. I think it's a great thing when there are mass adoption of crypto in the future, they won't only monitor fiat but also crypto but I think it'll be hard. Still I don't think it's a threat for them. It's not like accountants are only limited with cash, they can learn crypto. Plus, firm always need an accountant to monitor the flow of cash, even if they uses crypto, they will need someone to monitor it. And it's not like fiat will disappear.