Microsoft shareholders to vote on a proposal to assess Bitcoin as a potential investment. The decision could impact corporate adoption of cryptocurrencies.
Author: Tanishq Bodh
Written On: Mon, 09 Dec 2024 03:17:44 GMT
Microsoft Corporation (MSFT) is poised to decide its stance on Bitcoin this week as shareholders prepare to vote on a proposal urging the tech giant to consider adding the cryptocurrency to its balance sheet.
Scheduled for a vote on December 10, the proposal titled âAssessment of Investing in Bitcoinâ was submitted by the National Center for Public Policy Research, a conservative think tank advocating for Bitcoin as a hedge against inflation. The filing, made with the U.S. Securities and Exchange Commission, calls for Microsoft to publicly evaluate Bitcoinâs potential as part of its investment portfolio.
The proposal highlights Bitcoinâs recent achievements, including surpassing the $100,000 milestone and receiving endorsements from global leaders such as President-elect Donald Trump and Russian President Vladimir Putin. Proponents argue that adopting Bitcoin could position Microsoft as a pioneer in embracing digital assets among major corporations.
Microsoftâs board of directors, however, has recommended voting against the proposal. The board emphasized that the company already evaluates a wide range of investable assets, including Bitcoin, as part of its broader financial strategy.
The recommendation aligns with views expressed by Microsoft co-founder Bill Gates, who has consistently criticized cryptocurrencies for their speculative nature and lack of inherent value.
âWe carefully consider all investment options, including Bitcoin,â the board stated, adding that the company sees no need for a separate public assessment on the matter.
The vote comes at a critical moment for the cryptocurrency market, as Bitcoinâs historic price surge has reignited discussions about its role in corporate and institutional portfolios. A favorable vote from Microsoftâs shareholders could enhance Bitcoinâs legitimacy as a corporate asset, encouraging other traditional firms to explore similar investments.
Conversely, a rejection would signal Microsoftâs reluctance to follow the lead of companies like MicroStrategy (MSTR) and Tesla (TSLA), which have already allocated significant portions of their capital to Bitcoin.
Currently, MicroStrategy holds the largest corporate Bitcoin portfolio, with 402,000 coins valued at approximately $40 billion, amounting to nearly 2% of the total Bitcoin supply. Tesla also made headlines in 2021 for its $1.5 billion Bitcoin purchase, further fueling mainstream adoption of the digital currency.
As shareholders cast their votes this week, the outcome could influence not only Microsoftâs investment strategy but also broader sentiment toward Bitcoin in corporate America. Regardless of the decision, the proposal underscores the growing interest in integrating cryptocurrency into traditional financial systems.
Real voices. Real reactions.
Add your reaction to this story:
Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.
Roger Ver Or Satoshi Nakamoto: Who Moved The 80,000 BTC?
Elon Musk Launches âAmerica Partyâ â Meme Coin $AP Spikes 300%, Then Crashes to Zero
Credefi Finance Enters US to Drive âMade in USAâ RWA Tokenization
Humanity Protocol Surges 403% After Turbulent Launch and Controversial Airdrop
Roger Ver Or Satoshi Nakamoto: Who Moved The 80,000 BTC?
Elon Musk Launches âAmerica Partyâ â Meme Coin $AP Spikes 300%, Then Crashes to Zero
Credefi Finance Enters US to Drive âMade in USAâ RWA Tokenization
Humanity Protocol Surges 403% After Turbulent Launch and Controversial Airdrop