Microsoft (MSFT) shareholders are preparing for a important vote this December on whether the company should add Bitcoin (BTC-USD) to its balance sheet. According to a filing with the U.S. Securities and Exchange Commission on October 24, shareholders will consider a proposal titled “Assessment of Investing in Bitcoin” during a meeting set for December 10. This proposal is backed by the National Center for Public Policy Research (NCPPR), which argues that holding even a small percentage of assets in Bitcoin could be beneficial.
MSFT Board Recommends Against Proposal
Despite the proposal’s allure, Microsoft’s board is leaning towards a “no” vote, asserting they already “evaluate a wide range of investable assets,” including Bitcoin. This decision echoes their current investment strategy focused on artificial intelligence rather than blockchain technologies. “At minimum, companies should evaluate the benefits of holding some, even just 1% of its assets in Bitcoin,” the NCPPR stated, referencing how firms like MicroStrategy (MSTR) have outperformed Microsoft by over 300% this year.
Microsoft Revisits Its Potential Dive into Bitcoin
Microsoft once accepted Bitcoin payments in its online Xbox store from 2014 to 2018, but it seems the company is now hesitant to dive back into the cryptocurrency world. With Bitcoin’s volatility, the question remains: will the tech giant reconsider its position as institutional and corporate adoption becomes more mainstream?
With the MSFT share price hovering around $424.73, it remains to be seen how this potential investment could impact Microsoft’s future share price gains.
At the time of writing, Bitcoin is sitting at $67,657.44.
