The FASB's recent accounting rule revisions are poised to provide a more favorable outlook for companies holding digital assets, helping them mitigate the unfavorable optics generated by impairment losses, as stated in the report.
In response to a sharp drop in trading volumes that have hit a four-year low, crypto exchanges have launched promotions to bolster their revenue streams.
A death cross signals a possible enduring shift towards a bearish momentum, while a golden cross implies the contrary.
However, the adoption of the pioneer cryptocurrency and the underlying technology, blockchain, seems to be outdoing the internet's mass adoption. As far as adoption is concerned, Bitcoin had approximately the same number of users as the Internet in 1997. However, Bitcoin's mass adoption is growing at a faster rate when compared to the Internet.
The Internet has been around much longer than Bitcoin. However, the adoption of the pioneer cryptocurrency and the underlying technology, blockchain, seems to be outdoing the internet's mass adoption. As far as adoption is concerned, Bitcoin had approximately the same number of users as the Internet in 1997.
As Bitcoinist previously reported, the BTC adoption rate has even surpassed that of the internet. Former Google employee Michael Levin has made a two-part investigation on the topic. The first one explains how Bitcoin actually has two adoption curves, one for the network and another for the asset, BTC.
However, Bitcoin's mass adoption is growing at a faster rate when compared to the Internet. It is projected that in the next four years, Bitcoin will have around 1 billion users.
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