December 9-10, 2024;;; Microsoft will buy Bitcoin???

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Microsoft’s upcoming shareholder meeting on December 9-10, 2024, will include a proposal for the company to consider investing in Bitcoin. This proposal, backed by the National Center for Public Policy Research, advocates for exploring Bitcoin as a treasury asset to hedge against inflation and currency devaluation. Proponents argue that Bitcoin, with its fixed supply, offers potential for value preservation in uncertain economic times.

Microsoft’s board, however, opposes the proposal, advising shareholders to vote against it. They argue that the company’s current investment strategies prioritize stability and risk management, and point out that cryptocurrency’s volatility could undermine these objectives. Microsoft’s board asserts that their existing processes for evaluating various assets already include considerations of cryptocurrencies like Bitcoin, making the proposed assessment redundant.

This vote highlights broader debates about cryptocurrency’s role in corporate finance, with influential shareholders like BlackRock having shown interest in Bitcoin investments. The vote’s outcome could signal corporate sentiment on Bitcoin adoption among large technology firms, particularly if the proposal gains notable shareholder support despite the board’s opposition.

If adopted, the decision could mark a significant shift, potentially encouraging other companies to re-evaluate cryptocurrency investment strategies in the corporate sector. However, if rejected, it would reinforce the conservative stance many corporations maintain regarding crypto assets due to their inherent risks and market volatility.

For more details, you can check the sources at Blockonomi, The Asia Live, and MarketBeat.