Bitcoin (BTC) and crypto may soon see another mass wave of adoption by U.S.-based firms, after a new accounting rule change that lets companies more accurately reflect the value of their crypto holdings.
Cory Klippsten, the CEO of Bitcoin-only exchange Swan Bitcoin, told Cointelegraph that Bitcoin-holding companies like MicroStrategy and Tesla, which both had to report impairment on their holdings, “can now more accurately reflect their Bitcoin investments’ true value.”
“This change is crucial for a broad range of companies, not just those primarily focused on Bitcoin, encouraging more mainstream corporate adoption.”
The new Financial Accounting Standards Board (FASB) rules…
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