Microsoft opposes plan to invest in Bitcoin
The tech giant urged its shareholders to reject the proposal at the next shareholder meeting.
Microsoft opposes a plan to invest in Bitcoin despite its resilience to inflation. The tech giant urged its shareholders to reject the proposal at the next shareholder meeting.
According to documents filed with the Securities and Exchange Commission (SEC), the American tech giant wants its shareholders to reject a plan to consider Bitcoin, a treasury investment at its next shareholder meeting.
Microsoft’s board of directors urged shareholders to vote against this resolution at the company’s shareholders’ meeting on December 10. The company has previously “carefully considered this issue,” considering options like Bitcoin and other cryptocurrencies “.
Microsoft feels that such a public evaluation of Bitcoin was not justified,” the tech firm further disclosed monitoring trends and developments related to cryptocurrencies to inform its future decision-making dot.
Large corporate treasury prefers stable and predictable investments to ensure liquidity and operational funding. Rapid price movements are a factor when evaluating cryptocurrency investments.
The conservative think tank National Center for Public Policy Research’s proposal, emphasized MicroStrategy’s bitcoin investment strategy and the company’s surpassing of Microsoft by over 300 percent this year “despite doing only a fraction of the business”—is noteworthy. He added that spot ETFs are helping institutional and corporate adoption of Bitcoin become more “mainstream.”.
Additionally, the proposal points out that although bitcoin is still erratic, it might be a good inflation hedge. “Businesses should consider the advantages of having even 1% of their assets in Bitcoin, at the very least. “
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