Microsoft's Big Decision: Should They Add Bitcoin to Their Balance Sheet?

Summary:

Microsoft shareholders will vote on a proposal to add Bitcoin to the balance sheet on December 10.
The proposal is backed by figures like Donald Trump and Vladimir Putin.
Despite advocacy, Microsoft's board recommends voting against the proposal.
Bill Gates expresses skepticism about cryptocurrencies, aligning with the board's stance.
MicroStrategy remains the largest corporate Bitcoin holder with 423,650 BTC.

Microsoft Shareholders to Vote on Bitcoin Proposal

Microsoft (NASDAQ:MSFT) shareholders are set to vote on December 10 regarding a proposal to assess adding Bitcoin to the company’s balance sheet. The voting will take place at 8:30 AM PST.

As Bitcoin trades at $98,050, having reached a record high of $103,679, the proposal titled "Assessment of Investing in Bitcoin" has gained traction, with support from prominent figures like Donald Trump and Vladimir Putin. The National Center for Public Policy Research submitted this proposal, emphasizing Bitcoin as "an excellent hedge against inflation," as noted in a Quartz report.

Despite the advocacy for this move, Microsoft's board of directors has recommended against it, stating that the company already evaluates a wide range of assets, including Bitcoin, as part of its ongoing investment strategy. The board mentioned, "The company carefully considers this topic as part of our broader financial framework" in an SEC filing.

Skepticism from Microsoft Co-Founder

Bill Gates, co-founder of Microsoft, has been vocal about his skepticism towards cryptocurrencies, often highlighting their speculative nature, which aligns with the board's stance, potentially affecting shareholder approval.

While companies like Tesla and MicroStrategy have embraced Bitcoin, Microsoft has yet to take similar steps. MicroStrategy is currently the largest corporate Bitcoin holder, with 423,650 BTC valued at around $42 billion.