The FASB's Bitcoin fair value accounting rules officially take effect today
According to reports, the FASB fair value accounting rules officially apply to Bitcoin today. Previously, companies could only assess the value of Bitcoin at the purchase price, not its appreciation.
MicroStrategy founder Michael Saylor stated last week that FASB (Financial Accounting Standards Board) has formally passed the fair value accounting rules for Bitcoin, which will be applicable for fiscal years beginning after December 15, 2024. This improvement will promote businesses adopting Bitcoin as a reserve asset.
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