MicroStrategy, the publicly traded software company best known for its bet on bitcoin, said Monday that it supported a proposal from the Financial Accounting Services Board that would let firms use fair-value accounting for crypto held on their balance sheets. "The rigorous process undertaken by FASB is appreciated," the company said in a letter, noting that it is the largest public company holder of bitcoin, with 140,000 BTC worth just under $4 billion at current market prices. MicroStrategy faced pushback from the U.S. Securities and Exchange Commission in 2022 when it used non-GAAP measures to try and adjust bitcoin impairment charges.
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