In less than 2 months, Microsoft shareholders will be asked to vote in favor or against an investment strategy focused on Bitcoin (BTC). However, this proposal made by one of the shareholders of the technology giant is not to the taste of the Board of Directors.
Microsoft proposes to vote in favor or against an investment strategy focused on Bitcoin
In recent weeks, Microsft considered investing in Bitcoin (BTC). This is what asserts a document filed by the firm this Thursday with the Securities and Exchange Commission (SEC).
In this report, the American technology giant indicates that it has offered its shareholders to decide soon in favor or not of this strategy focused on the purchase of BTC. This proposal will be put to a vote on the occasion of the next general meeting scheduled for December.
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However, Microsoft Board of Directors recommends voting against this proposal. Its members took the time to explain why they did not want to invest in Bitcoin for the moment:
The Microsoft Global Treasury and Investment Services team evaluates a broad range of investable assets to finance Microsoft's ongoing operationsincluding assets believed to provide diversification and protection against inflation, and mitigate the risk of significant economic loss from rising interest rates. Past evaluations have included Bitcoin and other cryptocurrencies among the options consideredand Microsoft continues to monitor trends and developments related to cryptocurrencies to inform future decision-making. […] Volatility is a factor to consider when evaluating cryptocurrency investments. We already have processes in place to manage and diversify our cash flow.
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A proposal put forward by one of the shareholders of the technology giant
The National Center for Public Policy Research (NCPPR) is at the origin of this proposal to invest in Bitcoin. This entity, shareholder of Microsoft, presents itself as “ an independent, nonpartisan, free-market conservative think tank “.
To convince other Microsoft shareholders, NCPPR discussed MicroStrategy's BTC investment strategy which is currently very beneficial to him. The firm co-founded by Michael Saylor does not hold no less than 252,200BTC, currently valued at nearly $16 billion.
The company that has made Bitcoin accumulation its priority, to the point of becoming the keystone of its economic strategysaw its share price take off in September. The price of MicroStrategy stock went in a few weeks from 114 dollars to 235 dollars at the time of writing these lines.
👉 Also read – MicroStrategy aims to become a Bitcoin (BTC) bank valued at $1,000 billion
In the event that Microsoft shareholders voted in favor of this investment strategy, the group would become the largest institutional investor in cryptocurrencies ahead of MicroStrategy and Tesla, the automobile company led by Elon Musk.
Thus, this announcement could possibly have an impact on the price of Bitcoin. Currently, the cryptocurrency is trading at just under $68,000.
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Source: Securities and Exchange Commission
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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