FASB has officially adopted Fair Value Accounting for #Bitcoin for fiscal years beginning after Dec 15, 2024. This upgrade to accounting standards will facilitate the adoption of $BTC as a treasury reserve asset by corporations worldwide. https://t.co/4GOuji6cr0
#Bitcoin has a larger market cap than the following companies:
• Visa
• Tesla
• HSBC
• Disney
• Walmart
• Mcdonalds
• Mastercard
• Bank of China
• Morgan Stanley
• Bank of America
• JPMorgan Chase
• American Express
• Berkshire Hathaway
This is significant
The Independent, a liberal leaning UK major news source with a monthly reach of 19,826,000 people, just ran the Cornell University Study whose findings suggest "Bitcoin mining could supercharge transition to renewables"
https://t.co/fFQQMGFBGf
The paper's author Fengqi You is highly respected in his field. https://t.co/u8y0Cp1YAA
This represents a shift for The Independent, who previously ran negative ESG press about Bitcoin - joining Bloomberg and the Financial Times as publications who have published pro-Bitcoin ESG articles for the first time in 2023.
The article contains the acknowledgement
"The plummeting costs of renewable energy mean bitcoin miners are increasingly turning to solar, wind and hydro sources to power their operations."
and the quote
"the beauty of the protocol is that the incentive structure will force miners to adopt the cheapest form of electricity"
While this isn't saying anything that those who study Bitcoin Mining don't already know, what's significant is that accurate reporting about Bitcoin mining is for the first time starting to consistently occur in an increasing number of Mainstream news sources this year.
Over the course of human history, we’ve produced 700M tons of copper.
To reach Net Zero by 2050, we’d need to produce 1.4B tons of copper over the next 27 years.
Doubling all of human history production in < 3 decades.
Lol.
BREAKING: Binance's CZ, their CEO, is stepping down.
He has plead guilty to money laundering violations in Seattle and Binance also pleading guilty, paying the $4.3 billion fine.
I have to say, my favourite image from my upcoming book, The Hidden Cost of Money, is the evolution of our monetary system over the last 100 years, shown via the dollar bill.
1928 - "In gold payable to the bearer on demand"
1934 - "Will pay to the bearer on demand"
1974 - "..."
JUST IN: Despite being far from its USD ATH #Bitcoin celebrates a triple crown, hitting all-time highs in Argentina, Nigeria, and Turkey
#Bitcoin is doing exactly what it was built to do in countries with hyperinflating currencies