US multinational technology giant Microsoft recently made headlines for filing with the US Securities and Exchange Commission (SEC) indicating potential interest in investing in Bitcoin (BTC), the largest cryptocurrency by market capitalization. Ta.
Microsoft's potential Bitcoin investment faces board opposition
Latest SEC filingMicrosoft has proposed a “Bitcoin Investment Evaluation'' that will be put to a vote at the shareholders' meeting scheduled for December 10th.
The day marks a day for both the company and the broader crypto market, as a positive result could further demonstrate Bitcoin's growing appeal to traditional businesses and financial institutions, and signal increased acceptance as an investment asset. will be important for.
However, the filing also reveals that Microsoft's board of directors recommends voting against the proposal, which is a move that Microsoft co-founder Bill, who has publicly criticized cryptocurrencies in the past, recommends voting against the proposal. This is increasingly consistent with Gates' view.
BTC volatility concerns
Gates frequently highlighted The “risk” associated with Bitcoin's historical volatility, especially for individuals without significant financial resources. He cautioned that while Bitcoin can be a speculative investment, it may not be suitable for everyone, especially those who cannot afford to lose their investment.
Despite his concerns about Bitcoin, Gates acknowledges the digital currency's potential benefits. He previously emphasized the importance of transparency and regulation in the crypto space, pointing to the Bill & Melinda Gates Foundation's efforts to promote digital currency initiatives that enable transparent transactions.
As of this writing, the largest cryptocurrency on the market is trading at $68,540, up 3% in the past 24 hours and nearly 15% in the past two weeks.
Featured image from DALL-E, chart from TradingView.com
