Bitcoin Depot, a leading U.S.-based Bitcoin ATM operator and fintech company, has announced plans to allocate a portion of its cash reserves to bitcoin (BTC).

This move underscores the company’s belief in bitcoin as a significant financial asset and a store of value, aligning with the broader trend of institutional adoption of the scarce digital asset.

Bitcoin Depot’s decision to incorporate bitcoin into its treasury strategy is not just a leap of faith but a calculated move supported by recent changes in accounting standards.

The Accounting Standards Update (ASU) 2023-08, effective for fiscal years starting after December 15, 2024, allows companies to record gains held…

Read more on bitcoinnews