According to a Bloomberg report, a comment letter from the SEC released Thursday showed that the regulatory body objected to MicroStrategy reporting information related to its Bitcoin (BTC) purchases based on non-Generally Accepted Accounting Principles (GAAP). The business intelligence firm has been reporting that it used these methods of calculating figures for its BTC buys, excluding the “impact of share-based compensation expense and impairment losses and gains on sale from intangible assets.” Essentially, this negates some of the effects of the volatility of the crypto market.
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Source: Cryptocurrency - investing.com
