New Accounting Rules Greenlight Corporate Crypto Holdings
• New accounting rules allow crypto-holding companies to report paper gains, not just losses, on their balance sheets • This could give more mainstream firms confidence to add bitcoin and crypto to their balance sheets • Companies can now use bitcoin as a "strategic financial asset" since they can report on value gains/losses • The rule change signals wider acceptance of crypto as part of corporate financial reporting • Analysts say 2024 will be a "landmark year" for bitcoin adoption by corporations