MicroStrategy supports the fair value accounting rules for cryptocurrencies proposed by the FASB

ChainCatcher news, MicroStrategy stated that it supports the proposal by the Financial Accounting Standards Board (FASB) to "allow companies to use fair value accounting rules for cryptocurrencies held on their balance sheets."

MicroStrategy claims to be the largest publicly traded holder of Bitcoin, holding 140,000 Bitcoins, valued at approximately $4 billion at current market prices. If the current "uncertain intangible asset accounting model" is used, the company must use the original purchase price and then record cumulative impairment expenses, meaning the value of its held Bitcoins on its balance sheet would only be $2 billion, half of its fair value.

FASB voted on the proposal last year and is currently in a public comment period. The company encourages interested parties to provide feedback on the accounting rule proposals accepted by FASB before June 6. (source link)