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 <p><strong>Also Read: Terra Luna Classic Proposal To Revive USTC And LUNC To $1</strong></p>  
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 <h2 id="bitcoin-price-at-fair-value">Bitcoin Price At Fair Value</h2> 
 <p>The FASB vote means companies being able to measure the value of the Bitcoin and other cryptocurrencies based on accounting rules. The new accounting rules, likely to be published by the end of 2023, will mandate a fair value measurement that companies can follow when they report crypto holdings, subject to price fluctuations. These rules will come into effect from 2025, while companies willing to report prior to that will have the option to, according to a Bloomberg report.</p>  
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 <p>For example, companies will be able to follow the FASB accounting rules to report in earnings report the total value at that time the Bitcoin price, with the most recent pricing. FASB member Christine Botosan said,</p> 
 <blockquote> 
  <p>“It’s not very often that we can both take cost out of the system and improve the decision usefulness of information, and it makes it a really easy vote to do both of those.”</p>  
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 </blockquote> 
 <h2 id="xrp-lawyer-very-significant-move">XRP Lawyer: Very Significant Move</h2> 
 <p>John Deaton, the attorney representing thousands of XRP token holders in the U.S. Securities and Exchange Commission (SEC) lawsuit, described the FASB accounting rules initiative as a very significant development at the face of it. However, the attorney would like to see in the longer term if non-crypto native companies like MicroStrategy will be open to mentioning crypto holdings in their balance sheets. He said,</p> 
 <blockquote> 
  <p>“On paper this is very significant. We will see if it truly opens the door for companies, not named MicroStrategy, to keep BTC on its balance sheet. You combine this with a spot ETF and it could move the needle.”</p> 
 </blockquote> 
 <p>Also Read: <strong>Blackrock Bitcoin Spot ETF Could Unlock $30 Trillion: Bloomberg Analyst</strong></p> 
</div>  
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/microstrategy-gets-bitcoin-fair-value-vote-xrp-lawyer-sceptical-tbt61789.html">https://thebittimes.com/microstrategy-gets-bitcoin-fair-value-vote-xrp-lawyer-sceptical-tbt61789.html</a></p>

MicroStrategy Gets Bitcoin Fair Value Vote; XRP Lawyer Sceptical

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