Governance Document Library
Frameworks, blueprints, and case studies for institutional Bitcoin treasury governance. All public documents are available without registration.
Governance Publications
Core governance references for board-level treasury oversight.
Treasury v2 Governance Blueprint
The definitive governance framework for institutional Bitcoin treasury operations. Board-level oversight structures, fiduciary compliance, risk management protocols, and capital structure resilience strategies.
Surviving Bitcoin Drawdowns
Risk management frameworks for corporate treasurers navigating Bitcoin volatility — governance strategies, board communication, and position management during corrections.
Download PDFCFO Playbook — Bitcoin Treasury Strategy
A practical guide for CFOs building board-ready Bitcoin treasury proposals. Covers pitch decks, governance checklists, custody policy templates, and FASB accounting FAQs.
View PlaybookFramework Published Standards
Approved for production adoption. These specifications define the Treasury v2 operating system.
RARTA Framework v1.3
SRF Framework v1.2
Case Studies
Six corporate bitcoin decisions, read from the public record against the same four questions: when bitcoin may be sold, who approves, how it is disclosed and how the proceeds are used.
MARA: the sale that retired the debt
Sold 15,133 bitcoin in three weeks and used the money to retire $1.0 billion of convertible notes below face value.
Read Case StudyStrategy: “never sell” was not the policy
Sold in May 2026 for the first time since 2022. The board program followed in June. Weekly disclosure, and no price trigger.
Read Case StudySequans: the lenders held the keys
Raised equity and debt to buy bitcoin and pledged all of it to the lenders. Selling the pledged coins needed their consent. None left fourteen months later.
Read Case StudyBlock: the rule covers buying
Two published documents and a monthly buying formula. No conditions for a sale. No sale reported.
Read Case StudyMetaplanet: a sale to prove it could
Sold 10,000 bitcoin and bought back 11,000 in one quarter, to show rating agencies it could. Its position on selling came with the disclosure.
Read Case StudyTesla: the company that sold
Bought under a policy the Audit Committee approved. Sold with no published rule. What the filings show.
Read Case StudyInsights for CFOs and Corporate Treasurers
Plain-English answers to the search queries finance leaders actually type — Bitcoin treasury strategy, corporate Bitcoin adoption, FASB ASU 2023-08 accounting, custody, board approval, and stress-response governance.
Bitcoin treasury strategy for CFOs
How finance leaders build a board-ready Bitcoin treasury strategy: allocation thresholds, fiduciary documentation, and the questions every CFO must answer before the first satoshi is custodied.
Read the CFO playbookCorporate Bitcoin adoption framework
A structured framework for corporate Bitcoin adoption — moving from exploratory committee to operational treasury with RARTA allocation, SRF stress response, and BEOL optimization layers.
Explore the framework stackBitcoin treasury accounting under ASU 2023-08
Fair-value Bitcoin accounting under FASB ASU 2023-08: tax-lot tracking, quarterly remeasurement, OCI presentation choices, and the audit trail your auditors will ask for.
Review BEOL accounting guidanceBoard approval for Bitcoin treasury allocation
Resolution language, fiduciary risk disclosures, and reporting cadence boards expect before approving a Bitcoin treasury allocation. Includes a sample board resolution template.
Download resolution templateBitcoin volatility risk management for corporates
Pre-committed drawdown protocols, emergency authority matrices, and stress-level trigger cards that let corporate treasurers respond to Bitcoin volatility without ad-hoc board calls.
Open the SRF stress frameworkInstitutional Bitcoin custody policy
Custody architecture for institutional Bitcoin holdings — qualified custodians, multi-sig topology, key-ceremony controls, and the SOC 2 evidence finance teams need on file.
Download custody worksheetBitcoin treasury case studies for finance leaders
What the public record shows about how MARA, Strategy, Sequans, Block, Metaplanet and Tesla bought, held and sold bitcoin, read the way your treasury committee would read it.
Read the case studiesBitcoin treasury FAQ for CFOs
Direct answers to the questions CFOs, controllers, and audit committees ask most: accounting, hedging, disclosure, liquidity, and counterparty risk.
Browse the CFO FAQ