$BTC The approval of Bitcoin ETFs could be one of the most important investment events of our generation and would make Bitcoin an asset available to over $30 trillion in combined assets managed by companies applying for such ETFs.
Also last week, the United States Financial Accounting Standards Board (FASB) approved new rules that will allow companies to record their Bitcoin holdings at fair value. This means that companies will be able to reflect the current value of their Bitcoin in their financial statements, even if the price of Bitcoin fluctuates. The new rules will go into effect in 2025. In short, the new rules will make it easier for companies to adopt Bitcoin as a treasury reserve asset.
Considering Bitcoin's market cap of $850 billion, it stands to reason that just from supply and demand, this new liquidity will increase the price exponentially. Remember that the amount of Bitcoins is finite.
