As the value of bitcoin surpasses $100,000, Microsoft shareholders are wondering: Should the leading cryptocurrency be integrated into their financial strategy?
The response to this important decision could be made on Tuesday, December 10, according to a new document presented to the US Securities and Exchange Commission.
The proposal at hand is called “Evaluation of investment in bitcoin“. It has been presented by the National Center for Public Policy Research, a conservative think tank.
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This group praises bitcoin (btc) as a hedge against inflation.
Despite this push, Microsoft's board of directors has advised shareholders to vote against the proposal.
The board's reluctance is reflected by Microsoft co-founder Bill Gates, who previously expressed skepticism about the speculative nature of cryptocurrencies. He <a target="_blank" href="https://www.cnn.com/2022/06/15/tech/bill-gates-crypto–nfts-comments/index.html” target=”_blank” rel=”nofollow”>called the digital asset trend “100% based on the greater fool theory” in 2022.
This skepticism is shared by other members of the board of directors who believe that the technology giant already pays due attention to these types of investment opportunities.
This upcoming vote could influence the entire cryptocurrency investment sector. Microsoft's approval could increase the legitimacy of btc and its adoption by major financial entities.
Conversely, a decision to reject the proposal could signal Microsoft's intention to maintain a more conservative portfolio of assets. This differs from companies like MicroStrategy and Tesla, which have invested heavily in btc.
What Saylor says…
MicroStrategy CEO Michael Saylor has been a strong supporter of bitcoin and has said he will continue to accumulate the asset as part of his company's strategy.
In early December, he addressed Microsoft's board of directors, promoting bitcoin as a necessary evolution in digital asset management and urging its inclusion on Microsoft's balance sheet for the foreseeable future.
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During the presentation, Saylor described btc as the biggest digital transformation of the 21st century. He also added that bitcoin is the “highest-yielding uncorrelated asset a corporation can have on its balance sheet.”
