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Microsoft (MSFT+1.40%) will soon decide whether to invest in Bitcoin, but the board recommends voting against the proposal because the company is already considering a wide range of investable assets, including Bitcoin. I am doing it.
On December 10th, the tech giant's shareholders are scheduled to vote on whether Microsoft should publicly evaluate adding Bitcoin to its balance sheet. According to a filing with the U.S. Securities and Exchange Commission.
The proposal, titled “Evaluating Bitcoin Investments,” was submitted by the National Center for Public Policy Research, a conservative think tank that advocates Bitcoin as “a good, if not the best, inflation hedge.”
Despite this support, Microsoft's board has advised shareholders to vote against the proposal, saying the company is already “carefully considering this topic.” This stance is consistent with the following view: Microsoft co-founder Bill Gates has been a vocal critic of virtual currencies. In particular, it emphasizes concerns about its speculative nature.
The next vote, scheduled for December 10th, will have important implications not only for Microsoft but also for the broader crypto market. A positive outcome could further solidify Bitcoin's position as an attractive asset for traditional businesses and financial institutions, and underline its growing acceptance as a legitimate investment.
On the other hand, the decision to reject the proposal would signal that Microsoft remains reluctant to follow the lead of other technology companies such as MicroStrategy (MSTR+3.44%) and Tesla (TSLA+2.90%), they have already invested heavily in Bitcoin. the current, MicroStrategy has the largest enterprise Bitcoin portfolio252,220 coins are worth about $17 billion, or more than 1% of Bitcoin's total supply.
