Microsoft shareholders are gearing up to vote on a Bitcoin investment proposal at the company’s annual meeting on December 10. While Microsoft’s board of directors has recommended against Bitcoin as an investment, citing concerns over volatility and liquidity, the tech giant continues to monitor cryptocurrency trends closely. However, as it stands, BTC does not feature prominently in the company’s treasury plans.
Microsoft Set to Vote on Bitcoin Investment Proposal
In a recent development, Microsoft filed a proposal with the U.S. Securities and Exchange Commission (SEC) on October 24, signaling the company’s plan to consider Bitcoin among its investment assets. The advisory board backs the proposal, suggesting that the growing influence of cryptocurrencies in the global economy warrants further examination. The board emphasizes that Microsoft’s treasury review on Bitcoin should be conducted during its annual meeting on December 10.
However, Microsoft’s board remains cautious, advising shareholders against supporting the proposal. According to the board, the company has been reviewing a diverse array of assets, including BTC, as part of its ongoing financial strategy. They argue that Bitcoin’s high volatility makes it unsuitable as a stable corporate investment to support liquidity and operational needs.
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Will Microsoft’s Board Approve BTC?
In a statement, Microsoft’s board highlighted its decision, noting that the company’s Global Treasury and Investment Services team regularly evaluates various assets for diversification and risk management, including potential future acquisitions like OpenAI. Additionally, the board pointed out that Bitcoin’s price fluctuations have influenced its current stance on BTC. Microsoft stresses the need for stable assets to ensure the company’s financial health, liquidity, and operational funding.
Behind the Scenes: Microsoft’s Crypto Strategy
As reported by The Bit Journal, Microsoft’s treasury team has been evaluating cryptocurrencies like Bitcoin for several years. The board monitors these assets as part of a broad market trend assessment but has held back due to concerns over volatility and the ability of such assets to meet the company’s financial needs.
Microsoft’s board stated that it has risk management strategies in place and will continue to track developments in the crypto space. They believe an additional public review of Bitcoin, as suggested by the proposal, is unnecessary.
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