Claim BonusMicroStrategy Wins Bitcoin Fair Value Vote; XRP Lawyer Sceptical
The Financial Accounting Standards Board (FASB) voted in support of allowing companies reporting Bitcoin holdings at fair value. This could likely be a massive regulatory development in the context of institutional investors like Blackrock, Fidelity and Bitwise seeking to get their spot Bitcoin ETF applications approved.
Also Read: Terra Luna Classic Proposal To Revive USTC And LUNC To $1
Bitcoin Price At Fair Value
The FASB vote means companies being able to measure the value of the Bitcoin and other cryptocurrencies based on accounting rules. The new accounting rules, likely to be published by the end of 2023, will mandate a fair value measurement that companies can follow when they report crypto holdings, subject to price fluctuations. These rules will come into effect from 2025, while companies willing to report prior to that will have the option to, according to a Bloomberg report.
For example, companies will be able to follow the FASB accounting rules to report in earnings report the total value at that time the Bitcoin price, with the most recent pricing. FASB member Christine Botosan said,
“It’s not very often that we can both take cost out of the system and improve the decision usefulness of information, and it makes it a really easy vote to do both of those.”
XRP Lawyer: Very Significant Move
John Deaton, the attorney representing thousands of XRP token holders in the U.S. Securities and Exchange Commission (SEC) lawsuit, described the FASB accounting rules initiative as a very significant development at the face of it. However, the attorney would like to see in the longer term if non-crypto native companies like MicroStrategy will be open to mentioning crypto holdings in their balance sheets. He said,
“On paper this is very significant. We will see if it truly opens the door for companies, not named MicroStrategy, to keep BTC on its balance sheet. You combine this with a spot ETF and it could move the needle.”
Also Read: Blackrock Bitcoin Spot ETF Could Unlock $30 Trillion: Bloomberg Analyst
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Michael Saylor Hints at Another Strategy BTC Buy as Bitcoin Drops Below $68K
- Expert Says Bitcoin Now in ‘Stage 4’ Bear Market Phase, Warns BTC May Hit 35K to 45K Zone
- Bitcoin Price Today As Bulls Defend $65K–$66K Zone Amid Geopolitics and Tariffs Tensions
- XRP Realized Losses Spike to Highest Level Since 2022, Will Price Rally Again?
- Crypto Market Rises as U.S. and Iran Reach Key Agreement On Nuclear Talks
- Shiba Inu Price Feb 2026: Will SHIB Rise Soon?
- Pi Network Price Prediction: How High Can Pi Coin Go?
- Dogecoin Price Prediction Feb 2026: Will DOGE Break $0.20 This month?
- XRP Price Prediction As SBI Introduces Tokenized Bonds With Crypto Rewards
- Ethereum Price Rises After SCOTUS Ruling: Here’s Why a Drop to $1,500 is Possible
- Will Pi Network Price See a Surge After the Mainnet Launch Anniversary?
