Microsoft is recommending that shareholders vote against the proposal to conduct a valuation of Bitcoin as an investment asset, as the company is already considering Bitcoin as an investment option.
A filing with the U.S. Securities and Exchange Commission on October 24th states that one of the proposals that Microsoft shareholders will vote for or against at the annual meeting on December 10th is “Evaluation of Investments in Bitcoin.'' Items are listed. However, the Microsoft board has indicated that it will vote against it.
The reason behind this is that Microsoft claims that a valuation of Bitcoin (BTC) is not necessary due to the fact that it has “already carefully considered this topic”.
“Past evaluations have included Bitcoin and other cryptocurrencies among the options considered, and Microsoft monitors trends and developments related to cryptocurrencies to inform future decisions.” ” the board wrote in response to the proposal.
The proposal was submitted by the National Center for Public Policy Research, an independent think tank. The supporting statement cites MicroStrategy's Bitcoin investment strategy and how the company's stock has outperformed Microsoft by more than 300% this year “despite having a portion of Microsoft's business.”
They also pointed out that more companies are adopting Bitcoin as an investment vehicle. Meanwhile, Microsoft's second-largest shareholder, BlackRock, began offering a Bitcoin exchange-traded fund earlier this year.
“Bitcoin is a good, if not the best, hedge against inflation, and with corporate bond yields lower than actual inflation rates, companies should not risk shareholder value by ignoring Bitcoin completely.” No,” the NCPPR said.
Additionally, he said institutions like Microsoft should at least consider the “benefits of holding a portion, even 1%, of their assets in the form of BTC.”
It's still unclear whether Microsoft has plans to invest in Bitcoin in the near future, but the software giant offered Bitcoin as a payment option on its online Xbox Store from 2014 to 2018.
In September 2023, a leaked document obtained by Axios appears to reveal that Microsoft plans to add a cryptocurrency wallet to the next Xbox console in 2028. However, this is still subject to change as the document is dated May 2022 and no new updates have been made yet. In a few more years.
