According to Cointelegraph, Microsoft shareholders are set to vote on whether the tech giant should consider adding Bitcoin to its balance sheet. This decision will be made during a meeting scheduled for December 10, as revealed in an October 24 filing with the United States Securities and Exchange Commission (SEC). The proposal, titled 'Assessment of Investing in Bitcoin,' has been put forward to certain shareholders for consideration.
Despite the proposal, the Microsoft board has recommended that shareholders vote against it. The board stated that they already evaluate a wide range of investable assets, including Bitcoin. The recommendation is detailed in Item 5 of the filing, where the board advises against the Bitcoin investment.
The proposal was initiated by the National Center for Public Policy Research. The center highlighted the Bitcoin investment strategy of business intelligence firm MicroStrategy, noting that it has outperformed Microsoft by over 300% this year despite having a smaller business scale. The center also pointed out that institutional and corporate adoption of Bitcoin is becoming more common, particularly through spot Bitcoin exchange-traded funds (ETFs).
The National Center for Public Policy Research acknowledged Bitcoin's volatility but argued that it could serve as a hedge against inflation and corporate bond yields. They suggested that companies should at least evaluate the benefits of holding a small portion, even just 1%, of their assets in Bitcoin.
This is a developing story, and further updates will be provided as more information becomes available.
