:max_bytes(150000):strip_icc()/hodl678x381-5bfc2e10c9e77c002630d42d.png){kind=avatar}
Can't understate how huge this is.
FASB has officially adopted Fair Value Accounting for #Bitcoin for fiscal years beginning after Dec 15, 2024. This upgrade to accounting standards will facilitate the adoption of $BTC as a treasury reserve asset by corporations worldwide. https://www.fasb.org/page/getarticle?uid=fasb_Media_Advisory_12-13-23
Discussion
It is a huge deal for the companies, before the bookvalue declined if the bitcoin price declined and stay the same if the price was rising. Now investors know how much bitcoin is on the balance and the bookvalue will rise or decline with the price of bitcoin. The incentives are now a lot higher too have bitcoin as reserve asset on the balance sheet of a big company