According to PANews, the FASB fair value accounting rules officially took effect for Bitcoin today. Previously, companies could only assess the value of Bitcoin based on the purchase price, rather than its appreciated portion.

Michael Saylor, founder of MicroStrategy, stated that the FASB has officially passed the fair value accounting rules for Bitcoin, which will apply to fiscal years starting after December 15, 2024. This improvement will encourage companies to adopt Bitcoin as a reserve asset.