Why are other companies not holding #BITCOIN
The reason is "the old accounting method", LET ME EXPLAIN
Let's say a company bought 100 BTC at $67,000 each. if BTC drops to $60,000 and then pumps to $68,000 The company still need to report it at $60,000 ( the lowest price in the reporting period )
So basically, they will have to show it at a loss even if it's in profit. This makes their earnings weak and affects their share prices.
BUT very soon, this will completely change.
From DECEMBER 2024, the FASB rule will be implemented, which will allow companies to report the value of BTC base on it's level of the given exchange at the end of the reporting period.
Right now S&P 500 companies are seating on a 2.5T in cash and cash equivalents. which will depreciates in value with inflation.
I'm wondering if the is an asset which is inflation resistant, limited in suppy and also called digital gold?
