新的FASB會計規則可能幫助特斯拉預訂了6億美元的比特幣利潤，但它可能會以巨大的稅單來降落微觀。

特斯拉2024年第四季度的淨收入約佔其比特幣持有量。由於財務會計標準委員會（FASB）的加密資產指南的變化，該公司能夠預訂這些比特幣衍生的利潤。

A recent change in accounting rules might have helped deliver a $600 million profit on bitcoin (BTCUSD) holdings for Tesla (TSLA), but the same rule could potentially leave MicroStrategy (MSTR) with a multi-billion dollar tax bill.

最新的會計規則變更可能有助於對特斯拉（TSLA）的比特幣（BTCUSD）持有的6億美元利潤，但同樣的規則可能會使微型票據（MSTR）以數十億美元的稅費使MicroStrategy（MSTR）。

Roughly 26% of Tesla's net income for the fourth quarter of 2024 came from its bitcoin holdings. The company was able to book these bitcoin-derived profits due to a change in Financial Accounting Standards Board (FASB) guidelines for crypto assets.

特斯拉2024年第四季度的淨收入約佔其比特幣持有量。由於財務會計標準委員會（FASB）的加密資產指南的變化，該公司能夠預訂這些比特幣衍生的利潤。

What The New Rule Means For Bitcoin-Owning Companies

新規則對比特幣擁有公司意味著什麼

The new rules or ASU 2023-08 allow companies with bitcoin holdings to account for its value on a mark-to-market basis or depending on where it's trading at in the markets.

新的規則或ASU 2023-08允許擁有比特幣持有的公司以標記到市場的基礎或根據市場交易的位置來計算其價值。

"The primary advantage of the FASB’s new rules concerning the new mark-to-market rule for corporate digital asset holdings are that it will allow companies to provide the value of their digital assets in real time," Miller & Company LLP Managing Partner & CPA Paul Miller told Investopedia.

“ FASB關於公司數字資產持有的新標記市場規則的新規則的主要優勢是，它將允許公司實時提供其數字資產的價值，”保羅·米勒（Paul Miller）告訴Investopedia。

Under previous FASB guidelines, bitcoin was treated as an “indefinite-lived intangible asset,” forcing companies to write down its value when prices dropped but preventing them from recording gains unless the asset was sold.

根據以前的FASB準則，比特幣被視為“無限期無形資產”，迫使公司在價格下降時降低其價值，但除非出售資產，否則將其記錄下來。

The old system frustrated MicroStrategy’s founder, Michael Saylor, who argued it got in the way of adoption of bitcoin as a corporate treasury asset.

舊系統使Microstrategy的創始人Michael Saylor感到沮喪，後者認為它阻礙了比特幣作為公司財政部資產的方式。

Why MicroStrategy May Land a Huge Tax Bill

為什麼微型策略可能會達成巨大的稅單

Bitcoin's been on a tear last year and remains strong well into this year. Based on the new rules, MicroStrategy's bitcoin buying spree has left it with roughly $18 billion in unrealized bitcoin gains, The Wall Street Journal reported recently. That could create a tax bill worth billions for MicroStrategy.

去年比特幣一直流淚，直到今年仍然很強勁。根據新的規定，Microstrategy的比特幣購買狂潮使其具有大約180億美元的未實現的比特幣收益。這可能會為微觀流通造成價值數十億美元的稅單。

This reclassification of crypto assets on its books has made MicroStrategy potentially vulnerable to a 15% tax on unrealized bitcoin gains under the Inflation Reduction Act’s Corporate Alternative Minimum Tax (CAMT). That means the company could face taxes on these gains starting 2026, even without selling a single coin—a risk it acknowledged in a recent regulatory filing.

在其書籍上進行加密資產的這種重新分類使MicroStrategy在《降低通貨膨脹法》的公司替代最低稅（CAMT）下，可能對未實現的比特幣收益徵收15％的稅。這意味著該公司從2026年開始就可以面對這些收益的稅收，即使不出售一枚硬幣，這是在最近的一份監管文件中承認的風險。

"As a result of the enactment of the IRA and our adoption of ASU 2023-08 on January 1, 2025, unless the proposed regulations with respect to CAMT are revised to provide relief, we could become subject to the corporate alternative minimum tax in the tax years 2026 and beyond," MicroStrategy said.

“由於IRA的頒布以及我們在2025年1月1日對ASU 2023-08採用的結果，除非對CAMT提議的法規進行修訂以提供救濟，否2026年及以後的納稅年度。” Microstrategy說。

Although MicroStrategy remains one of the biggest corporate bitcoin owners, other listed companies, such as Marathon Digital (MARA), Riot Platforms (RIOT), Semler Scientific (SMLR), are following its bitcoin buying playbook and could be affected by this rule change.

儘管MicroStrategy仍然是最大的公司比特幣所有者之一，但其他上市公司，例如Marathon Digital（Mara），Riot Platforms（Riot），Semler Scientific（SMLR），正在遵循其比特幣購買劇本，並可能受到此規則更改的影響。