FASB fair value accounting rules officially take effect for Bitcoin! 🎉

In the past, companies could only assess the value of Bitcoin based on the purchase price, but now, this new regulation allows businesses to evaluate Bitcoin based on its market value. This change could have a positive impact on corporate financial statements, especially for those companies that hold Bitcoin as a reserve asset.

MicroStrategy founder Michael Saylor stated that this improvement will encourage more companies to adopt Bitcoin as a reserve asset. 📈 However, this rule will not officially take effect until the fiscal year after December 15, 2024, giving companies time to prepare. 🔍