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Microsoft board advises against Bitcoin investment proposal, citing prior evaluations and ongoing monitoring. Institutional Bitcoin holdings grow, with MicroStrategy and Bitcoin ETFs among top corporate holders. Microsoft’s upcoming shareholder meeting on the 10th of December is set to capture significant attention. A notable proposal for the tech giant to explore Bitcoin [BTC] investments will be a part of the meeting’s agenda. Microsoft’s Bitcoin board meeting According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Microsoft’s board and shareholders will address several key issues at the meeting. These include the suggestion to adopt BTC as a hedge against inflation and broader economic shifts. However, Microsoft’s board has advised a vote against this proposal, stating that the company has already given careful consideration to such strategies, according to the filing. As outlined in a company statement opposing the proposal, Microsoft emphasized its stance against Bitcoin investment. “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.”  What’s more to it? This proposal, initiated by the National Center for Public Policy Research (NCPPR), pointed to MicroStrategy’s notable Bitcoin investment approach, which it claims has outperformed Microsoft’s stock by over 300% in the past year despite the smaller scale of MicroStrategy’s operations. The NCPPR also highlighted the growing trend of institutional and corporate interest in BTC. This included through spot Bitcoin ETFs, and argued that, although Bitcoin remains volatile, it could act as a potential hedge against inflation and declining corporate bond yields. ”At minimum, companies should evaluate the benefits of holding some, even just 1% of its assets in Bitcoin.”  Bitcoin’s top holders and their growing influence BTC institutional holdings has grown remarkably, with top players like Satoshi Nakamoto, Binance, BlackRock,…

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Filed under: News - @ October 25, 2024 4:26 pm