In this video, ODell forgot to mention FASB accounting rules change.
I'm starting to get a little worried that at some point next year I am going to check the Bitcoin price and literally crap my pants.
Discussion
Meaning?
It's an accounting rule that discourages corporations from holding Bitcoin.
From coindesk: Under the existing rulebook, companies have to report a loss if the [Bitcoin] they hold is worth less than the purchase price, even if they haven't sold the assets. Under the new rules, companies will have to report the fair value, cost-basis and types of assets they're holding.
So, what do you think is gonna happen in a year?
Bitcoin price is gonna go to the moon 🌘
If I had to guess, I think it will be above $150,000 in a year.
How are those 2 related?
Corporations may have wanted to hold Bitcoin in their company like Michael Saylor does, but they would be penalized for it. The new rules will be more fair, so they now have incentive to buy Bitcoin. Most companies that wanted to follow Saylor would probably wait for these rule changes before they buy.
Just make sure you wear a diaper everyday, problem solved.