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An Anonymous Coward writes:

Overstock.com and the Internet Archive have separately discussed their decisions to hold onto cryptocurrencies rather than convert them immediately. From news.bitcoin.com:

Operating as a 501(c)(3) non-profit, the Internet Archive has accepted bitcoin donations since 2012. This week Kahle decided to explain to the public in a blog post why bitcoin remains a fixture in the nonprofit's balance sheet.

"A foundation was curious as to why we have Bitcoin on our balance sheet, and I thought I would explain it publicly," explains Kahle. "The Internet Archive explores how bitcoin and other Internet innovations can be useful in the non-profit sphere – this is part of it. We want to see how donated bitcoin can be used, not just sold off."

[...] At the beginning of August the company's CEO, Patrick Byrne revealed it is currently stashing fifty percent of its bitcoin revenue. Byrne has been [a] long-time bitcoin proponent and believes the technology behind the decentralized currency will be the future of finance. During a budget report, Byrne revealed the business used to keep 10 percent of the daily bitcoin revenue the company earned and converted the rest of the funds to USD. Now Byrne details that the corporation's board of directors has authorized a strategy to hold fifty percent of the firm's bitcoin revenue.

The original announcements:
http://blog.archive.org/2017/09/02/why-bitcoin-is-on-the-internet-archives-balance-sheet/
https://finance.yahoo.com/news/edited-transcript-ostk-earnings-conference-155549361.html (requires ECMAScript to "Read More")

Note: "HODL" appears to be a bitcoin joke, see here

Original Submission