More firms set to add Bitcoin to balance sheets after major rule change

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…

Read more on Cointelegraph

20.3K Reads