A post on X by Alexander Leishman, the CEO of brokerage firm River suggests that top technology firm Microsoft Corp (MSFT) has commenced voting on Bitcoin (BTC) investment proposal. The River executive shared a screenshot of a poll which asked viewers’ opinion of a proposal to invest in the top coin.

Microsoft Bitcoin Bet, Stakeholders Hold All The Cards

For the Microsoft Bitcoin BTC investment proposal poll, the options available to voters are “For”, “Against” and “Abstain.”

The team behind the poll clearly stated that the “Against” option is recommended by the Microsoft board. It is worth noting that the community has anticipated this vote but it is coming way earlier than expected.

Yo Voté $MSFT pic.twitter.com/BZQL2Im8pF

— Alexander Leishman (@Leishman) October 30, 2024

Barely five days ago, the firm filed a document with the United States Securities and Exchange Commission (SEC). The filing revealed an unexpected item on the agenda for its upcoming annual shareholder meeting on December 10. As expected, the filing included plans for election of directors, the ratification of Microsoft’s independent auditor, as well as reports on Artificial Intelligence (AI) misinformation.

Of course, one item stood out in the filing and this was an “Assessment of Investment in Bitcoin.” In a plot, twitst the board advised Microsoft stakeholders to vote against it.

Microsoft’s Potential Bet May Trigger Valuation Boost

Based on its Q2 2024 earnings report, Microsoft has $76 billion in cash and equivalents. Should Microsoft shareholders vote that the company allocate a minimum of 10% to Bitcoin, this could equate to a massive $7.6 billion investment. According to CoinMarketCap, BTC is currently priced at $71,745.84.

If its average price is pegged at $73,000, the technology company might acquire 104,109 BTC based on the allocation projection.

Noteworthy, this holding is more than eleven times that of Elon Musk’s Tesla in the present day. However, it will trail behind business intelligence and software firm MicroStrategy’s 252,220 BTC units. Considering how over 80% of Bitcoin has remained stationary in the last six months, purchasing up to 100,000 BTC may trigger a supply shock.

While the consequence for this huge buy remains uncertain for Microsoft, it could push the price of the digital asset to its much-anticipated $100,000 level. The deciding power rests on the shoulder of the stakeholders. For now the broad crypto ecosystem is waiting patiently to see what becomes of this Microsoft Bitcoin proposal.

The post Microsoft Allegedly Begins Early Voting on Bitcoin Investment appeared first on CoinGape.

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Filed under: News - @ October 30, 2024 6:24 pm