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A company as large as Microsoft needs to consider many options. Some are as unthinkable as betting on an industry with which they have no direct relationship throughout history. However, sometimes suggestions emerge that need to be discussed even if they do not fit. And that’s what’s happening at Microsoft.
What happened? Following a proposal by a group of shareholders, Microsoft will have its future board vote on the company’s position on Bitcoin as an interesting investment.
This vote has already been filed with the Securities and Exchange Commission (SEC) and will take place on December 10.
This would make Microsoft one of the largest public investors in Bitcoin. Besides private investors such as the Winklevoss brothers or Michael Saylor, there are also companies such as Morgan Stanley, Paypal or Tesla that hold part of their reserves in Bitcoin. This investment strategy is what the shareholder group wants Microsoft to achieve.
What has changed? During these months, Bitcoin’s value remained fairly stable, hovering around $60,000 for the first time in almost an entire year. It has not risen, but significant volatility has decreased since the approval of Bitcoin ETFs.
At this point, shareholders of the National Public Policy Council, a conservative think tank, have found the ideal product to propose a proposal that at another time would have more difficulty finding the necessary support.
Why can’t he move forward? Although voting has been proposed, as explained by The Block, it is unlikely that Microsoft will make a positive decision to invest in Bitcoin.
The board itself recommended voting against this proposal, which is registered with the SEC. Microsoft’s board of directors considers this suggestion “unnecessary” and explains that it is “already carefully considering this issue” within the company.
Public debate has already been achieved. Although the proposal was not accepted, the shareholder group managed to get votes on Microsoft’s board of directors regarding the use of blockchain and commitment to Bitcoin as an investment. It’s an action that takes place in the middle of the US elections, where cryptocurrencies are another element trying to attract votes.
Image | Microsoft | Mariia Shalabaieva
in Xataka | Trump has a trump card to win the crypto industry: Using Bitcoin as a US national reserve
Source: Xataka
Jason Root is a blockchain enthusiast and author at Div Bracket. He provides comprehensive coverage of the latest developments in the world of blockchain, offering readers a unique perspective on the industry and its potential for revolutionizing various industries.
