Whether anyone likes it or not, Bitcoin has become a household name. But it’s not just limited to household names; it’s become an investment staple in the business world. Everyone is investing in Bitcoin, from countries to large multinational firms. One of the biggest multinationals there, Microsoft, now looks to make its own decision on whether or not Bitcoin is the right way to go.
According to reports from an October 24th filing with the United States Securities Regulator, Microsoft has reached the Bitcoin junction, and the company’s shareholders are now looking forward to voting on whether the tech giant should publicly consider adding Bitcoin to the company balance sheet.
🚨 JUST IN: Microsoft asks shareholders to vote on whether to consider investing in Bitcoin! pic.twitter.com/eZAY0PIDBv
— Swan (@Swan) October 24, 2024
In the filing, Microsoft disclosed that a proposal of what they called an “Assessment of investing in Bitcoin” has been made to some of the shareholders in the company. They have also picked the 10th of December, 2024 as the day to hash things out through a vote.
As it stands, the Microsoft Board seems to be against the proposal. It has been reported that they have recommended voting against it. They gave that recommendation because they already “evaluate a wide range of investable assets,” including Bitcoin.
JUST IN: Per an SEC filing, Microsoft will have a proposed board resolution for an "Assessment of Investing in Bitcoin".
— TFTC (@TFTC21) October 24, 2024
The board is recommending that shareholders vote AGAINST the proposal. pic.twitter.com/0WveygitH9
The National Center for Public Policy Research (NCPPR) is said to have been responsible for pushing the proposal. The proposal was also reported to have highlighted business intelligence from MicroStrategy’s Bitcoin investment strategy as a case study and point of reference.
The business intelligence form outperformed Microsoft by more than 300% in 2024, even though it does just “a fraction” of the business Microsoft does. This is all thanks to the company's Bitcoin Investment Strategy.
From the $MSFT report:
— Mason (@BitDeez) October 24, 2024
"Microstrategy – which, like Microsoft, is a technology company, but unlike Microsoft holds Bitcoin on its balance sheet – has had its stock outperform Microsoft stock this year by 313% despite doing only a fraction of the business that Microsoft has. And… pic.twitter.com/IYfXlcxkMx
The NCPPR also mentioned that institutional and corporate adoption of cryptocurrency is becoming increasingly commonplace, especially when it comes to spot Bitcoin exchange-traded funds.
Although the research center also pointed out Bitcoin’s inherent volatility to Microsoft, they mentioned that the asset could eventually serve as a hedge against inflation and corporate bond yields.
The NCPPR was said to recommend that, at the minimum, “companies should evaluate the benefits of holding some, even just 1% of their assets in Bitcoin.”
Although the NCPPR describes itself as a “non-partisan, free market, independent conservative think tank” to protect the liberty of both present and future Americans, the Microsoft Board doesn’t seem interested.
As it stands, it doesn’t look like Microsoft will approve an investment in Bitcoin. However, it is important to remember that the company accepted Bitcoin payments on its Online Xbox store between 2014 and 2018, so anything is still possible. All we can do is wait for December 10 and see what happens.
Kataryna Habeliia
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