SEC Objects to MicroStrategy’s Accounting Adjustment for Its Bitcoin Holdings

Under standard accounting rules, the value of digital assets such as cryptocurrencies must be recorded at their cost and then only adjusted if their value is impaired, or goes down. But if the price rises, that does not get reflected until an asset is sold.

Source link

Read Previous

Bitcoin mining difficulty reaches ATH despite liquidations worth over $292m

Read Next

Market Wrap: Cryptocurrencies Tumble as Global Investors Reduce Risk