On December 16th, according to The Bitcoin Historian, the editor of Bitcoin Magazine, the US Financial Accounting Standards Board's (FASB) fair value accounting standard for bitcoin officially came into effect today. Previously, companies could only measure their bitcoin assets at historical cost and could not reflect their market value growth. The new standard allows companies to use fair value measurement methods to more accurately reflect the actual value of bitcoin assets, a change that will reduce the accounting barriers for companies to include bitcoin on their balance sheets. MicroStrategy founder Michael Saylor previously said that the FASB has officially adopted fair value accounting rules for bitcoin, which apply to fiscal years beginning after December 15, 2024. This improvement will promote the adoption of bitcoin as a reserve asset by enterprises.