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The Bitcoin adoption wave appears unshaken by Microsoft’s shareholders’ decision not the add the asset to its portfolio when they met as scheduled on December 10. Before the meeting, there was little optimism for a Bitcoin victory. The board of directors had already decided against adding the asset to the company’s balance sheet. If the proposal had been approved, it would have immediately sparked another wave of momentum for the asset. Aside from the asset seeing a likely surge in price, it would have also started another buying spree, one led by corporations this time. The surge would have also BTC, which is still sustaining a Trump-fuelled run to greater heights, creating a batch of new millionaires among the elites and retail traders alike. A new Bitcoin buying spree is on the horizon  All indications point to a renewed Bitcoin buying spree in the crypto industry. With Microsoft deciding against the asset, firms and retailers are stepping up. According to the think tank in charge of Microsoft’s proposal The National Center for Public Policy Research, the next company that is thinking about adding BTC to its balance sheet is Amazon. Amazon shareholders have scheduled an April meeting to vote on a Bitcoin proposal. The shareholders will vote on a proposal similar to Microsoft’s, requesting the company to consider BTC as a treasury asset. With BTC above the $100,000 mark and the regulatory clarity the Trump administration promised the crypto industry, other companies might be looking to follow in this direction. With more shareholders also seeing the potential of the asset, they might be forced to call for a consensus to vote on their firms adopting Bitcoin. If the firms refuse, it could lead to backlash from shareholders and the public. It would be a case of shareholders urging the companies…

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Filed under: News - @ December 15, 2024 2:16 pm