Microsoft’s Bitcoin dilemma: Ride $5T BTC wave or avoid risk
Next week, Dec. 10 will mark a key date for Microsoft and the Bitcoin community because the tech giant’s shareholders will vote on whether to add BTC to its balance sheet.
The results will show whether shareholders are attracted by the current Bitcoin
BTC
tickers down
$96,873
bull market or wish to stick to Microsoft’s pragmatic and profitable approach to tech development.
On Oct. 24, before the United States presidential election, Microsoft’s 14a filing with the US Securities and Exchange Commission included a section called “Assessment of Investing in Bitcoin.” The filing says the company should consider diversifying its assets with Bitcoin as an “excellent, if not the best, hedge against inflation.”
However, just beneath the proposal, in the “Board Recommendation” section, Microsoft’s board of directors advised shareholders to vote against it, saying that the company’s management had already carefully considered the topic.
Nate Holiday, co-founder and CEO of Microsoft-backed Web3 decentralized data firm Space and Time, told Cointelegraph, “The board‘s pre-vote statement was clear: They have a sophisticated treasury management function that is returning tremendous returns for their investors.”
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