As Bitcoin’s value surged above $100,000, Microsoft shareholders wonder: Should the top cryptocurrency be integrated into their financial strategy?
The answer to this major decision could be made on Tuesday, Dec. 10, according to a new filing with the U.S. Securities and Exchange Commission.
The proposition at hand is dubbed “Assessment of Investing in Bitcoin.” It has been brought forward by the National Center for Public Policy Research, a conservative think tank.
This group lauds Bitcoin (BTC) as a hedge against inflation.
Despite this push, Microsoft’s board has advised shareholders to vote against the proposal.
The board’s reluctance is mirrored by Microsoft co-founder Bill Gates, who has previously expressed skepticism about the speculative nature of cryptocurrencies. He called the digital asset trend “100% based on greater fool theory” in 2022.
This skepticism is shared by other board members who believe that the tech giant already gives adequate consideration to such investment opportunities.
This upcoming vote could influence the entire cryptocurrency investment sector. Approval from Microsoft could ramp up BTC’s legitimacy and its adoption by mainstream financial entities.
Conversely, a decision to reject the proposal might indicate Microsoft’s intent to maintain a more conservative asset portfolio. This diverges from companies like MicroStrategy and Tesla, which have heavily invested in BTC.
What Saylor says…
MicroStrategy Executive Chairman Michael Saylor has been a vocal advocate for Bitcoin, saying he will continue accumulating the asset as part of his company’s strategy.
In early December, he addressed Microsoft’s board, promoting Bitcoin as a necessary evolution in digital asset management and urging its inclusion on Microsoft’s balance sheet in the foreseeable future.
During the presentation, Saylor described BTC as the greatest digital transformation of the 21st century. He also added that Bitcoin is the “highest performing uncorrelated asset that a corporation can hold on its balance sheet.”
