📢 Gate Square #Creator Campaign Phase 2# is officially live!
Join the ZKWASM event series, share your insights, and win a share of 4,000 $ZKWASM!
As a pioneer in zk-based public chains, ZKWASM is now being prominently promoted on the Gate platform!
Three major campaigns are launching simultaneously: Launchpool subscription, CandyDrop airdrop, and Alpha exclusive trading — don’t miss out!
🎨 Campaign 1: Post on Gate Square and win content rewards
📅 Time: July 25, 22:00 – July 29, 22:00 (UTC+8)
📌 How to participate:
Post original content (at least 100 words) on Gate Square related to
Changes in Accounting Standards in the US! New Rules Will Be Applied for Bitcoin - Coin Bulletin
The Financial Accounting Standards Board (FASB) of the United States officially began applying fair value accounting rules for Bitcoin as of today.
Previously, companies could only assess the value of Bitcoin based on the purchase price and could not take into account any increase in value.
A new era for companies
This regulation will significantly change the way Bitcoin is managed as a reserve asset. Michael Saylor, the founder of MicroStrategy, described FASB's move as a critical change in his statement last week.
The new accounting standards will be applicable for fiscal years beginning after December 15, 2024. However, this development is expected to accelerate companies' tendency to adopt Bitcoin as a reserve asset.
Impact on corporate finance strategies
This move by the FASB could increase the integration of Bitcoin into corporate finance strategies. With fair value accounting, companies will be able to reflect increases in Bitcoin's market capitalization on their balance sheets. This could result in wider acceptance of Bitcoin and a strengthening of companies' motivation to consider Bitcoin as a reserve asset.