FASB’s Rule Change for Cryptocurrencies and MicroStrategy

In a recent news published by investment bank Berenberg, it was stated that MicroStrategy, following the Financial Accounting Standards Board’s (FASB) rule change regarding companies’ reporting of their financial conditions, can report its Bitcoin (BTC) assets every quarter without having to define impairment losses due to a decrease in the price of Bitcoin during that period. FASB’s Rule Change for Cryptocurrencies and MicroStrategy Berenberg stated in its latest report that MicroStrategy has reported a cumulative impairment loss of $2.23 billion since adopting its Bitcoin acquisition strategy in August 2020.The post FASB’s Rule Change for Cryptocurrencies and MicroStrategy appeared first on COINTURK NEWS.