The post Will Microsoft Shareholders Vote ‘Yes’ On Bitcoin? What To Expect appeared on BitcoinEthereumNews.com.

In a recent SEC filing dated Thursday, October 24, Microsoft Corporation (NASDAQ: MSFT) revealed that an “Assessment of Investing in Bitcoin” will be a voting item at its forthcoming shareholder meeting on December 10. This development has ignited discussions within the investment community about the potential direction of Microsoft’s treasury strategy and the likelihood of shareholder approval. Microsoft Bitcoin Investment: Yay Or Nay? Microsoft’s board of directors has formally recommended voting against the Bitcoin investment proposal. In supplementary materials filed with the SEC on October 25, the board articulated that the requested assessment is redundant, emphasizing that Microsoft’s management already integrates considerations of cryptocurrencies into their broader investment strategy. The board highlights that “This proposal requests that the Board conduct an assessment that is unnecessary because Microsoft’s management already carefully considers this topic. Microsoft’s Global Treasury and Investment Services team evaluates a wide range of investable assets to fund Microsoft’s ongoing operations, including assets expected to provide diversification and inflation protection.” The filing further noted that past evaluations have included Bitcoin among other cryptocurrencies. “Past evaluations have included Bitcoin and other cryptocurrencies among the options considered, and Microsoft continues to monitor trends and developments related to cryptocurrencies to inform future decision making,” the filing adds. The board asserted confidence in Microsoft’s existing processes to manage and diversify its corporate treasury for the long-term benefit of shareholders, deeming the public assessment unnecessary. “Microsoft has strong and appropriate processes in place to manage and diversify its corporate treasury for the long-term benefit of shareholders and this requested public assessment is unwarranted.” What To Expect Microsoft’s shareholder base is a diverse mix of institutional investors, public companies, and individual investors. As of June 30, 2024, institutional investors held approximately 43.13% of Microsoft’s outstanding shares, while public companies and individual investors accounted for 56.84%.…

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Filed under: News - @ October 26, 2024 1:11 am