depend on the liquidity on that day also they could OTC sell so yes they can probably get the market price. However telling the market fist isnt going to help.

>There’s a reason companies list “cash and equivalents” and BTC isn’t included in that line on the balance sheet.

Yes, the reason is volatility and uncertain liquidity. To compare BTC with cash equivalents you could use volume adjusted price over the last months, that would give a good short term cash value. But long term ofc its impossible to know what it may be worth.

Not quite sure how that's relevant to what I said, namely that assets hold by a company are not comparable to the companies market cap.