A significant shift in crypto accounting is now in effect, and it’s set to reshape how companies manage and report their Bitcoin (BTC) holdings. The Accounting Standards Update 2023-08 (ASU 2023-08), issued by the Financial Accounting Standards Board (FASB), introduces fair value accounting rules for Bitcoin and other eligible crypto assets. This landmark change allows companies to recognize both price gains and losses, addressing a long-standing issue in corporate crypto accounting.

📢 Amazon Shareholders Push for Bitcoin Treasury

Amazon, one of the world’s largest companies, is facing a pivotal moment as shareholders urge the tech giant to consider adding Bitcoin to its balance sheet. This move, proposed to shield against inflation and enhance shareholder value, reflects a growing trend among global corporations to embrace Bitcoin as a strategic treasury asset. 💡🪙