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Saylor 3 conditions reqd for BTC to get to $1M (Patreon)

Published:
2024-12-15 04:48:29
Imported:
2026-06
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Content

Michael Saylor, a prominent Bitcoin advocate and the executive chairman of MicroStrategy, has outlined three key conditions he believes are necessary for Bitcoin to reach a valuation of $1 million per coin.

The final piece, fair value accounting from FASB, goes into effect in about 30 minutes.

h/t Sanjay for the heads up

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Comments

CandyCoated

Thank you, Sanjay for keeping James informed!

FWTX
>>158348967

Silly is advertising your holdings on social media.

KoKoPelli
>>158349693

Yeah James is one guy. He has a team of people that help him be informed because he's very focused on other things right now. James knows how to delegate tasks

DrTSPC

Has #2 been completed for individuals?

The Accountant

Just an FYI, the FASB rules come into effect for fiscal periods (annual and interim) that start after December 15, 2024, which means that companies won’t apply the fair value accounting standard for crypto assets until Q1 2025 at earliest if they are a calendar year-end company. Companies have an election to early adopt the standard, so it’s possible MSTR decides to early adopt effective for their 10-K release in about 2 months from now which would cover their annual results through 12/31/2024, but I saw no indication of them leaning toward that via the disclosures of newly issued accounting pronouncements in their recent public filings. See below summary on effective date and how companies will adopt this new accounting standard. Also, this applies only to companies who report under US GAAP. Companies reporting under international accounting standards (IAS) are not subject to this, but generally most US traded companies follow US GAAP. Effective Date The amendments are effective for all entities for fiscal years beginning after December 15, 2024, including interim periods within those years. Early adoption is permitted. An entity that early adopts the amendments would be required to apply the entire ASU, including the presentation and disclosure provisions, not just the measurement guidance. An entity that adopts the amendments in an interim period must adopt them as of the beginning of the fiscal year that includes that interim period. Transition When adopting the final standard, entities are required to record a cumulative-effect adjustment to retained earnings (or other appropriate components of equity or net assets) as of the beginning of the annual period of adoption. Retrospective restatement would not be required or allowed for prior periods.

Foil up

James…now that FASB is kicking in, do you have a model of what that means for MSTR??

The Accountant
>>158357596

The TL;DR is if MSTR declines to early adopt the accounting standard for their fiscal year end 2024 reporting via their 10-K which likely gets released in Feb 2025, we won’t see the impact of this on their operating results until they release their Q1 2025 financials, which generally would be some time in late April 2025.

Most Alpha

What it’s does is present a clearer path for BTC to achieve $1m per coin.

Hestari

Can we really check mark #2? I felt like Saylor meant mainstream banks offering custody

Joe Schmoe

Does anyone with an accounting background have any idea what the PE Ratio will become on MSTR under the new FASBY rules. As they were championed by Saylor himself, I mean how smart IS this guy? Could they actually come in line with a typical tech company and therefore make MSTR even more attractive to the people who focus on that? Amazing