The former U.S. model that recorded crypto write-downs after price declines but generally not later recoveries before sale.
Legacy impairment accounting is best understood as part of a system rather than as an isolated definition. Its related coordinates show the mechanisms, incentives and historical records that give the term practical meaning.
Legacy impairment accounting belongs to the documented history and social layer around Bitcoin. Primary records can establish what was published, built or decided; motives, influence and later interpretation should remain separate from those verifiable facts.
Understanding Legacy impairment accounting helps distinguish a verifiable Bitcoin mechanism or historical record from slogans, products and market narratives.
For the clearest picture, read this entry together with Fair-value accounting for bitcoin, FASB ASU 2023-08, Corporate Bitcoin treasury. The reverse links also lead from Fair-value accounting for bitcoin, FASB ASU 2023-08, Bitcoin accounting policy.
Linked to related atlas coordinates
Grounded in a source record
Explains function and trade-offs
Part of the open Bitcoin knowledge graph