Richard

Chair

Bitcoin

Coin

<ul class="news-points"> 
 <li><strong>Bitcoin surged nearly 6% following an Accounting Standards Update release by FASB.</strong></li> 
 <li><strong>According to Michael Saylor, the recent development will facilitate BTC adoption as a Treasury reserve asset by corporations.</strong></li> 
 <li><strong>The FASB Chair said the board’s action was in response to feedback from stakeholders of all backgrounds.</strong></li> 
</ul> 
<p>Bitcoin staged a comeback yesterday following the Financial Accounting Standards Board’s (FASB) <a href="https://www.fasb.org/page/getarticle?uid=fasb_Media_Advisory_12-13-23#:~:text=Norwalk%2C%20CT%E2%80%94December%2013%2C,disclosure%20of%20certain%20crypto%20assets.'" target="_blank" rel="nofollow">publication</a> of an Accounting Standards Update (ASU). According to the announcement, the published ASU would improve the accounting for and disclosure of crypto assets, including Bitcoin. Michael Saylor, founder of MicroStrategy, thinks the recent development will facilitate the adoption of Bitcoin as a treasury reserve asset by corporations worldwide.</p> 
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   <p lang="en" dir="ltr">FASB has officially adopted Fair Value Accounting for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> for fiscal years beginning after Dec 15, 2024. This upgrade to accounting standards will facilitate the adoption of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a> as a treasury reserve asset by corporations worldwide. <a href="https://t.co/4GOuji6cr0" target="_blank" rel="nofollow">https://t.co/4GOuji6cr0</a></p>— Michael Saylor
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1734962747740152007?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 13, 2023</a>
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<p>Speaking on the development, FASB Chair Richard R. Jones noted that the board’s action was in res…</p>
<p>The post <a href="https://coinedition.com/bitcoin-stages-a-comeback-following-fasbs-new-standards-release/">Bitcoin Stages A Comeback Following FASB’s New Standards Release</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Bitcoin Stages A Comeback Following FASB’s New Standards Release

Coin Edition

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