IPFS News Link • Bitcoin
More Firms Set To Add Bitcoin To Balance Sheets After Major Accounting Rule Change
• CointelegraphBitcoin and crypto may soon see another mass wave of adoption by United States-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."