Microsoft, the technology giant, is planning to hold a shareholder vote on its investment in Bitcoin in December, despite the board’s recommendation against it. The board of Microsoft recently advised shareholders to vote against the proposal to invest in Bitcoin, the most valuable cryptocurrency in the market, according to a filing with the U.S. Securities and Exchange Commission (SEC).
However, supporters argue that large corporations should diversify their portfolios to combat inflation. They believe that companies should diversify their holdings with assets that appreciate in value more than bonds.
As of now, Bitcoin is trading at approximately $66,799, with a drop of over 2% in the last 24 hours. Microsoft’s decision to consider investing in Bitcoin is considered significant, taking into account the company’s investment strategies and the current market conditions. The shareholder vote will provide clarity on Microsoft’s stance towards digital currencies.
Please note that the information in this article should not be taken as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and should conduct their own research.
