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Microsoft Shareholders To Vote On Bitcoin Investment Proposal
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Microsoft (NASDAQ: MSFT ) shareholders will cast their votes on whether the company should publicly assess adding Bitcoin to its balance sheet on Dec. 10.
The vote, scheduled for 8:30 AM PST, comes as Bitcoin (CRYPTO: BTC ) trades at $98,050, after touching a record high of $103,679 and gains endorsement from global leaders such as President-elect Donald Trump and Russian President Vladimir Putin .
The proposal, titled "Assessment of Investing in Bitcoin," was submitted by the National Center for Public Policy Research, which describes Bitcoin as "an excellent hedge against inflation,” Quartz reported , quoting an SEC filing .
Despite this advocacy, Microsoft's board of directors has recommended voting against the measure, asserting that the company already evaluates a broad range of assets, including Bitcoin, as part of its existing investment strategy.
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"The company carefully considers this topic as part of our broader financial framework," the board noted in a filing with the U.S. Securities and Exchange Commission (SEC).
Microsoft co-founder Bill Gates has consistently expressed skepticism about cryptocurrencies, often citing their speculative nature.
His views appear to align with the board's position, further diminishing the likelihood of shareholder approval.
While some tech giants like Tesla (NASDAQ: TSLA ) and MicroStrategy (NASDAQ: MSTR ) have embraced Bitcoin, Microsoft has yet to follow suit.
MicroStrategy, for example, holds 423,650 BTC, valued at approximately $42 billion at current market prices, making it the largest corporate Bitcoin holder.
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This article Microsoft Shareholders To Vote On Bitcoin Investment Proposal originally appeared on Benzinga.com