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 at a meeting scheduled for December 10, as revealed in an October 24 filing with the U.S. Securities and Exchange Commission (SEC). The proposal, titled “Bitcoin Investment Evaluation,” was presented to some shareholders for evaluation.
Despite the proposal, Microsoft’s board of directors recommended that shareholders vote against it. The board said it already evaluates a wide range of investable assets, including Bitcoin. The recommendation is detailed in Article 5 of the filing, where the advice advises against investing in Bitcoin.
The proposal was initiated by the National Center for Public Policy Research. The center highlighted business intelligence firm MicroStrategy’s Bitcoin investment strategy, noting that it has outperformed Microsoft by more than 300% this year despite having a smaller company scale. The center also highlighted that institutional and corporate adoption of Bitcoin is becoming more common, particularly via Bitcoin spot exchange-traded funds (ETFs).
The National Center for Public Policy Research acknowledged Bitcoin’s volatility but argued it could serve as a hedge against inflation and corporate bond yields. He suggested that companies should at least evaluate the benefits of holding a small portion, even just 1%, of their assets in Bitcoin.
This is an evolving story and further updates will be provided as more information becomes available.
