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Microsoft (MSFT+1.22%) will soon decide whether to invest in Bitcoin, but its board will vote against the proposal, saying the company is already considering a wide range of investable assets, including Bitcoin. This is recommended.
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The tech giant’s shareholders will vote on Dec. 10 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 in line with the views of Microsoft co-founder Bill Gates, who has been a vocal critic of cryptocurrencies in the past, particularly highlighting concerns about their 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 still leaves Microsoft following the lead of other tech companies such as MicroStrategy (MSTR+1.73%) and Tesla (TSLA+2.19%), which have already invested heavily. This will show that you are hesitant. With Bitcoin. MicroStrategy currently holds the largest enterprise Bitcoin portfolio with 252,220 coins worth approximately $17 billion, representing more than 1% of the total Bitcoin supply.