Bitcoin has recently reached a significant milestone, hitting $100,000, and is gaining support from influential leaders, including President-elect Donald Trump and Russian President Vladimir Putin. In light of this, Microsoft is preparing for an important vote on December 10 regarding the potential addition of Bitcoin to its balance sheet. Despite a proposal advocating for this investment from a conservative think tank, Microsoft’s board recommends against it, citing existing evaluations of various assets. This decision could impact the wider cryptocurrency Market and influence other corporations’ views on Bitcoin, especially as firms like MicroStrategy and Tesla have already invested heavily in it. The outcome of this vote is crucial for Bitcoin’s acceptance among traditional businesses.
Bitcoin has reached a remarkable milestone, hitting $100,000. This significant achievement has drawn attention from influential figures like President-elect Donald Trump and Russian President Vladimir Putin. However, tech giant Microsoft has not yet decided on investing in this cryptocurrency. The company is expected to announce its decision soon.
On December 10, Microsoft shareholders will vote on whether the company should consider adding Bitcoin to its balance sheet. This information comes from a recent filing with the U.S. Securities and Exchange Commission. Microsoft’s board has recommended a “no” vote, mentioning that the company already looks at various investable assets, including Bitcoin, in its overall strategy.
The proposal, titled “Assessment of Investing in Bitcoin,” was put forth by the National Center for Public Policy Research. This conservative think tank views Bitcoin as a solid hedge against inflation. Despite this support, Microsoft’s board continues to oppose the proposal, reinforcing that the company carefully evaluates such topics. This stance reflects the views of Microsoft co-founder Bill Gates, known for his past criticism of cryptocurrencies due to their speculative nature.
The outcome of this upcoming vote is important for both Microsoft and the broader cryptocurrency Market. If the proposal is approved, it could further enhance Bitcoin’s reputation as an attractive asset for traditional corporations and financial institutions.
Should Microsoft decide against the proposal, it would indicate that the company is reluctant to follow in the footsteps of other tech firms like MicroStrategy and Tesla, which have made significant investments in Bitcoin. Currently, MicroStrategy boasts the largest corporate Bitcoin portfolio, holding around 402,000 coins valued at nearly $40 billion, which constitutes almost 2% of the total Bitcoin supply.
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What is Microsoft considering for investment this week?
Microsoft’s shareholders are deciding whether to invest in Bitcoin.
Why is Microsoft thinking about investing in Bitcoin?
They see potential for growth and want to explore new technology opportunities.
What could investing in Bitcoin mean for Microsoft?
It might diversify their investment portfolio and attract more tech-savvy investors.
How does the Market feel about Bitcoin right now?
Bitcoin’s value is fluctuating, which makes some investors cautious but others see it as a chance.
What should shareholders consider before voting?
Shareholders should think about the risks of Bitcoin, potential rewards, and how it fits with Microsoft’s goals.
