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49 sats \ 0 replies \ @faithandcredit 15 Nov 2022
Tl;Dr before if companies held BTC and the price went up they were not allowed
to account for this increase unless they sold! But if price went down they had to write off even if they didn't sell.
Now if companies hold BTC and the price goes up they are allowed to account for it without selling. This means the official company valuation goes up if it holds bitcoin and bitcoin goes up. The way it should be?
Thanks for sharing
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8 sats \ 0 replies \ @ExponentialBTC OP 14 Nov 2022
Here's a Tweet by the author that kicked off a Twitter thread that is a summary of this newsletter issue:
https://twitter.com/jameslavish/status/1592228100934438913 [Nitter]
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