Microsoft is gearing up for a major vote at its shareholder meeting on December 10, with a fresh proposal on the table—whether or not the company should officially assess investing in Bitcoin. This comes after a recent SEC filing revealed the proposal, sparking interest in the corporate world’s ongoing dance with cryptocurrencies.
Board Not Sold on Bitcoin Investment
Despite the buzz, Microsoft’s board is urging shareholders to vote against the proposal. As they believe the company’s management already evaluates a broad range of investable assets, including Bitcoin. According to the filingShareholders Set to Decide, Microsoft’s Global Treasury and Investment Services team continually assesses options that provide diversification, and inflation protection, and help mitigate risks like rising interest rates. Bitcoin, they say, is already part of these evaluations.
Why the Board Recommends “No”
Microsoft’s board believes an additional, public assessment of Bitcoin is unnecessary. They highlight that Bitcoin’s price volatility doesn’t align well with the company’s need for steady assets to ensure liquidity and operational funding. While they keep an eye on crypto developments, the board emphasized that the company already has robust processes for managing its investments.
A Broader Agenda
The December 10 meeting will cover several key issues besides the Bitcoin proposal, including governance policies, executive compensation, and the election of board members. But the Bitcoin vote is clearly grabbing headlines as corporate interest in cryptocurrency continues to grow.
It’s a hot topic—will Microsoft venture deeper into the world of Bitcoin, or stick to its current strategy? We’ll find out after the votes are in!
Source: https://coinpedia.org/news/microsofts-bitcoin-investment-proposal-shareholders-to-cast-their-vote/