Michaela
Microsoft Corp. is about to make a final decision on whether to invest in Bitcoin or not, with shareholders set to vote on the matter on December 10.
The Washington-based conservative think tank, the National Center for Public Policy Research (NCPPR), filed a shareholder proposal with the U.S. Securities and Exchange Commission (SEC), titled the “Assessment of Investing in Bitcoin.” The proposal called on Microsoft to consider adding Bitcoin to its balance sheet.
The group characterized Bitcoin as “an excellent, if not the best, hedge against inflation.” The NCPPR also recently urged Amazon to explore adding Bitcoin to its strategic reserve.
However, despite the organization’s advocacy, Microsoftās board of directors has recommended that shareholders reject the proposal.
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The boardās stance aligns with sentiments previously expressed by Microsoft co-founder Bill Gates, who has been vocal about his skepticism toward cryptocurrency. In 2022, Gates referred to the digital asset trend as being ā100% based on greater fool theory.ā
Other members of Microsoft’s board have expressed similar views, arguing that the company already thoroughly evaluates potential investment opportunities, including those related to cryptocurrency.
The upcoming shareholder vote has the potential to impact the broader crypto investment landscape. If Microsoft opts to approve the proposal, it could boost Bitcoinās credibility and encourage adoption among mainstream financial institutions.
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On the other hand, a rejection could indicate Microsoftās commitment to a more conservative asset strategy, setting it apart from companies like MicroStrategy, which have heavily invested in Bitcoin.
Currently, MicroStrategy is the largest corporate holder of Bitcoin with over 402,000 BTC, thanks to its recent acquisition of 15,400 BTC worth $1.5 billion. The companyās total investment in Bitcoin amounts to $23.4 billion, with the current market value of its holdings estimated at approximately $38 billion.
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MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
