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Let's assume that we are assessing the classification and accounting for cryptocurrencies that are directly held by the company and that company is not an investment company

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Let's assume that we are assessing the classification and accounting for cryptocurrencies that are directly held by the company and that company is not an investment company. Required Answer the following questions and provide support for your responses. 

1. Under US GAAP, what do you think cryptocurrencies (such as bitcoin) are classified as?

a. Cash and cash equivalents
b. Financial instruments
c. Inventory
d. Intangible assets

2. Based on your classification, how would they be measured?