The FASB's accounting rules for the fair value of Bitcoin officially take effect today

ChainCatcher news, according to Bitcoin Magazine editor The Bitcoin Historian, the FASB fair value accounting rules officially take effect for Bitcoin today. Previously, companies could only assess the value of Bitcoin at its purchase price, rather than its appreciated value.

The image shows that MicroStrategy founder Michael Saylor has stated*: *The 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 encourage companies to adopt Bitcoin as a reserve asset.