PANews reported on December 16 that according to a repost from Bitcoin Magazine, The Bitcoin Historian, FASB’s fair value accounting rules officially came into effect for Bitcoin today. Previously, companies could only assess the value of Bitcoin based on the purchase price, not its added value.
The picture shows that MicroStrategy founder Michael Saylor said last week : FASB (Financial Accounting Standards Board) has officially adopted the fair value accounting rules for Bitcoin, which will apply to fiscal years beginning after December 15, 2024. This improvement will promote the adoption of Bitcoin as a reserve asset by companies.
