Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Corporations will now be able to report btc gains on their asset if they hold it, pumping their overall stock price value for EOY reporting.
Funny how a major barrier to corporate bitcoin holding adoption is changed right before the coming Bitcoin ETF approvals?
What amazing timing! I'm shocked, shocked I tells ya! /s
https://twitter.com/davidmarcus/status/1734974716505649531
This is indeed a big deal but it’ll be another year before it goes into effect so the timing of it being announced right before the ETF approval doesn’t mean much. What it does mean is that a perfect storm is once again brewing for the 4 year ATH to get set in mid/late 2025. Exciting for people who are already happy with the $40K price. Funny how a major barrier to corporate bitcoin holding adoption is changed right before the coming Bitcoin ETF approvals?
What amazing timing! I'm shocked, shocked I tells ya! /s
https://twitter.com/davidmarcus/status/1734974716505649531
Quote
Early adoption is permitted for both interim and annual financial statements that have not yet been issued (or made available for issuance). If amendments are adopted in an interim period, they must be adopted as of the beginning of the fiscal year that includes that interim period.
https://fasb.org/page/getarticle?uid=fasb_Media_Advisory_12-13-23I had not noticed or seen that language about having such restrictions, and sure maybe it could become misleading if a company adopts the changed way of reporting in the middle of their statement or reporting period.. so maybe that means that some companies might decide to start right away or they might start at some point early or in the middle of 2024, but if they were to start in the early or in the middle of 2024, then they would have to amend all of their earlier statements for their reporting year, so if they report for the fiscal year they would have to go back to October, and if they report for calendar year then they would have to make sure all of their reports for the whole year are accurate from January (which might be amending their older issued reports).
If we look at all the above things well, then we can notice that before the end of this year, the price of Bitcoin is going to be higher, maybe it can exceed $60 thousand. we may have to wait until December 19, 2023 to see them, only then will we actually know how many pips Bitcoin ends the year at.
Maybe we're going to see something like Rocket and it's too soon.
Maybe we're going to see something like Rocket and it's too soon.
More immediately, if we look at this week's candle, we would have to get above $43,786 for it to close in the green, so I am not sure how great the odds are, because we ONLY have right around 24 hours before this week's candle closes, so the price would need to rise by more than $1,500 as I type this post.