CoinVoice has learned that, according to The Bitcoin Historian, editor of Bitcoin Magazine, the FASB fair value accounting rules officially came into effect for Bitcoin today. Previously, companies could only assess the value of Bitcoin based on its purchase price, rather than its appreciated value.
The image shows that MicroStrategy founder Michael Saylor stated: The FASB (Financial Accounting Standards Board) has officially approved the fair value accounting rules for Bitcoin, which will apply to fiscal years beginning after December 15, 2024. This improvement will encourage enterprises to adopt Bitcoin as a reserve asset. [Original link]
