As a seasoned analyst with over two decades of experience in the tech industry, I have witnessed the meteoric rise of digital assets and their potential to transform traditional investment portfolios. The proposition for Microsoft to consider adding Bitcoin to its balance sheet is an intriguing development that warrants careful consideration.
In an October 24th filing with U.S. securities regulators, it’s been revealed that Microsoft shareholders are set to vote on a proposal about whether the company should explore the possibility of incorporating Bitcoin into its financial holdings. The document suggests that some shareholders have already been presented with this “Evaluation of Investing in Bitcoin” and will cast their votes during a meeting scheduled for December 10th.
Nevertheless, the Microsoft board advises against it as they have already assessed various potential investments, such as Bitcoin, within their existing portfolio of investable assets.
The proposal was pushed by the National Center for Public Policy Research, which highlighted business intelligence firm MicroStrategy’s Bitcoin investment strategy and that it has outperformed Microsoft by over 300% this year “despite doing a fraction of the business” of Microsoft.
It also noted that institutional and corporate adoption is becoming more “commonplace” through spot Bitcoin exchange-traded funds.
The research center noted Bitcoin remains volatile but could serve as a hedge against inflation and corporate bond yields.
”At minimum, companies should evaluate the benefits of holding some, even just 1% of its assets in Bitcoin,” it said.
This is a developing story, and further information will be added as it becomes available.
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2024-10-25 02:01