Microsoft shareholders are set to cast a monumental vote this December, deciding if the tech titan should publicly weigh Bitcoin as a balance sheet asset. An Oct. 24 filing with the U.S. Securities and Exchange Commission unveiled that an “Assessment of Investing in Bitcoin” will be up for a vote during Microsoft’s Dec. 10 shareholder meeting. The proposal, driven by the National Center for Public Policy Research (NCPPR), could stir a Bitcoin pivot at Microsoft — if it even has a chance.
Microsoft’s board, however, is advising shareholders to nix the idea. They argue that Microsoft already keeps an eye on a broad array of investable assets, Bitcoin included, and sees no need for a formal Bitcoin assessment. But the NCPPR thinks it’s time for a more deliberate approach, pointing to how MicroStrategy’s Bitcoin-heavy strategy has paid off in gains, outpacing Microsoft’s own stock by over 300% this year alone.
NCPPR Pushes for Corporate Bitcoin Adoption, Cites Inflation Hedge
The NCPPR, a conservative think tank advocating for “free-market, independent” perspectives, contends that Bitcoin’s volatile reputation hasn’t stopped other corporations and institutions from getting involved, especially as spot Bitcoin ETFs hit the scene. In its filing, the NCPPR highlighted Bitcoin’s potential as an inflation hedge and alternative to sagging bond yields.
“At minimum, companies should evaluate the benefits of holding some, even just 1% of its assets in Bitcoin,” the research center noted. While the potential risks of Bitcoin remain high, NCPPR believes the asset’s benefits deserve a seat at Microsoft’s strategy table.
Although a Bitcoin play seems unlikely, Microsoft has dipped its toes into crypto waters before. From 2014 to 2018, it accepted Bitcoin payments on its Xbox store, giving a nod to digital currency’s growing impact. But these days, Microsoft’s focus has shifted heavily toward artificial intelligence, leaving blockchain and crypto far behind.
Microsoft Stock Holds Steady Amid Bitcoin Proposal News
Following the announcement, Microsoft’s stock price barely budged. As of Oct. 24, shares were trading flat at $424.7, per Google Finance data. Whether the Dec. 10 vote tips the scales on Microsoft’s approach to Bitcoin remains to be seen, but with corporate giants increasingly exploring Bitcoin, this proposal pushes the conversation front and center for the tech behemoth.
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