Good morning, CFOs. Bitcoin finishes the year below $88,000; FASB to key in on crypto in the year ahead; plus, Greg Abel’s time has come at Berkshire Hathaway.

Bitcoin, the largest cryptocurrency, finished the year below $88,000 after retreating more than 30% from early October, when it peaked at above $126,000. Since then, digital assets have lost more than $1 trillion in market value, reports my colleague Vicky Ge Huang.

Last year was mostly a victory lap for crypto, she notes, but some analysts now warn that a bear market has taken hold. Bitcoin has experienced a sharp slowdown in demand, which could drive prices as low as $56,000 in the year ahead, according to Julio Moreno, head of research at the data provider CryptoQuant.

In our look ahead for 2026, Mark Maurer reports that the Financial Accounting Standards Board plans to explore whether some cryptocurrency assets may qualify as cash equivalents and how to account for crypto transfers, as the Trump administration bolsters such investments.

The accounting standard-setter for U.S. companies and nonprofits added these two crypto projects to its agenda over the past few months in response to public feedback. The issues were among the first of more than 70 that the FASB will consider adding to its agenda that could eventually result in new standards.

Key quote from Chair Rich Jones: “A lot of people spend a lot of time and effort to help us with formulating what our agenda is. I view 2026 as taking that and carrying out our end of the bargain.”

📈 Economic Indicators

The ISM releases its Manufacturing Purchasing Managers’ Index for December. 

The Census Bureau reports construction spending statistics for November. 

Greg Abel’s time has come, and there’s a $358 billion question on investors’ minds: What will the new chief executive of Berkshire Hathaway do with all of that cash?

As Warren Buffett’s handpicked successor, Abel faces several challenges as he takes the reins. For one, he isn’t Warren Buffett, who became a household name as the leader of one of America’s most-admired companies. Shareholders don’t know if Abel can channel the stock-picking magic of his predecessor, who earned the nickname the Oracle of Omaha.

The most pressing issue is how to deploy Berkshire’s record cash pile. The company has been a net seller of stocks for 12 straight quarters. Close observers view that as a sign that prices had gotten too high for Buffett to believe an investment would lead to worthwhile long-term returns.

📰 Other headlines

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• What a Digital Detox Can Do for You

The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

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