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30 sats \ 7 replies \ @siggy47 OP 16 Dec 2024 \ parent \ on: Fair Value Accounting For Bitcoin Starts Today bitcoin
The old rule:
Companies record the value of bitcoin at the time of purchase in their accounts. If the price rises, they cannot log those gains until they sell. Yet if the value of bitcoin drops, the company must write down the value of their holdings as an impairment charge.
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43 sats \ 6 replies \ @Satosora 16 Dec 2024
Interesting how they could only log losses instead of gains. I kind of see why he couldnt conbince other companies to buy bitcoin.
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30 sats \ 5 replies \ @siggy47 OP 16 Dec 2024
Yes. This really is a big deal in the corporate world. It used to be treated under the "intangible asset" rule.
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43 sats \ 4 replies \ @Satosora 16 Dec 2024
Yes, no wonder only firm believers like Saylor put it on their companies books. I can see more companies adopting bitcoin now.
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30 sats \ 3 replies \ @siggy47 OP 16 Dec 2024
Yep
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43 sats \ 2 replies \ @Satosora 16 Dec 2024
Do you think microsoft will get in on it now?
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30 sats \ 1 reply \ @siggy47 OP 16 Dec 2024
I don't know
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43 sats \ 0 replies \ @Satosora 16 Dec 2024
I wonder if this will make bitcoin harder to stack? As more companies get into bitcoin, the supply will really be limited. We might be in for a fun ride!
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