Donald Trump Bitcoin Reserve Plan Aligns with FASB’s New Crypto Accounting Rules

The post Donald Trump Bitcoin Reserve Plan Aligns with FASB’s New Crypto Accounting Rules appeared first on Coinpedia Fintech News

The U.S. Financial Accounting Standards Board (FASB) has introduced a groundbreaking update that’s set to change how companies account for Bitcoin and other eligible crypto assets. Starting today, businesses can measure their Bitcoin holdings at current market prices, making financial reporting more accurate and transparent. Starting fully in 2025, the change could drive more firms to adopt Bitcoin as a reserve asset.

Following the two breaking news, Bitcoin surged above $105,000 today, adding U.S. President-elect Donald Trump’s comments about creating a strategic Bitcoin reserve, similar to the country’s oil reserve. The cryptocurrency hit a high of $105,142 before settling at $104,609. It has seen a 55% rise post-election, with a whooping trading volume of $62B. 

HISTORY: FASB FAIR VALUE ACCOUNTING RULES FOR #BITCOIN OFFICIALLY TAKE EFFECT TODAY

Previously, companies could only value BTC at the price they bought, NOT the gains

THE CORPORATE ADOPTION WAVE