SAB 122 Is A Bigger Bitcoin Price Catalyst Than The US BTC Reserve 🚀

The US SEC has announced the rescission of Staff Accounting Bulletin (SAB) No. 121, replacing it with SAB 122. This move is seen as a significant catalyst for Bitcoin's price, surpassing the potential impact of the anticipated US Bitcoin Reserve (SBR).

SAB 121 previously required banks to classify customer-held cryptocurrencies as liabilities, posing operational challenges and deterring crypto services. Its withdrawal through SAB 122 removes these barriers, encouraging Bitcoin's integration into mainstream finance.

Industry experts, including Andrew Parish and Fred Krueger, believe SAB 122 will have a transformative impact, with banks likely increasing Bitcoin accumulation. Former Google engineer Vijay Boyapati emphasizes the significant regulatory change favorably impacting crypto innovation and business growth.

Michael Saylor of MicroStrategy highlights that banks can now custody Bitcoin, aligning with his vision of reaching $1 million per coin. Bank of America's CEO, Brian Moynihan, notes the potential for broader crypto adoption if regulations support it.

Overall, the move is expected to boost institutional participation and Bitcoin's market liquidity, contributing to increased demand.