Thomas Daniels
As Bitcoin’s value rises above $100,000, Microsoft shareholders will soon have to decide whether to include the cryptocurrency in the computer giant’s financial plan. The vote, scheduled for Tuesday, Dec. 10, follows a filing with the U.S. Securities and Exchange Commission outlining the proposal, titled “Assessment of Investing in Bitcoin.”
Supported by the National Center for Public Policy Research, the plan emphasizes Bitcoin’s ability to act as an inflation hedge. Microsoft’s board of directors has advised shareholders to vote against the resolution in spite of this support, reflecting co-founder Bill Gates’ mistrust of cryptocurrencies. Gates, in a 2022 statement, dismissed digital assets as “100% based on greater fool theory.”
According to Microsoft’s board, the corporation already adequately assesses investment potential. In contrast to the approaches of businesses like MicroStrategy and Tesla, which have included Bitcoin in their portfolios, rejecting the notion might indicate a conservative approach to asset diversification.
Possible Effect on the Industry
The cryptocurrency industry is keeping a careful eye on the ruling since Microsoft’s endorsement would indicate further institutional acceptance, which would strengthen Bitcoin’s standing in conventional banking. On the other hand, rejection might highlight significant firms’ concerns about the speculative character of cryptocurrencies.
Michael Saylor Supports Bitcoin
Michael Saylor, the executive chairman of MicroStrategy and a fervent supporter of Bitcoin, has called on Microsoft’s board to accept the cryptocurrency. During a presentation in early December, Saylor argued that Bitcoin represents a “necessary evolution in digital asset management” and is the “highest-performing uncorrelated asset a corporation can hold.”
According to industry analysts, the outcome of the vote could have a long-term impact on corporate policies surrounding the use of Bitcoin.
