Apr 30, 2024 - Economy

🚨 Update: Accounting at MicroStrategy

Illustration of calculator buttons and a screen on one side of a glowing cube.

Illustration: Gabriella Turrisi/Axios

Yesterday we wrote about the new accounting standard for cryptocurrency and noted that MicroStrategy — which has lots of bitcoins — has not adopted it.

Between the lines: The tell was the latest impairment loss on its bitcoin holdings, which is how the former accounting rules worked, only permitting gains to be shown when the assets were sold.

The intrigue: The company had supported the push for new rules.

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