Technology giant Microsoft is set to conduct a shareholder vote regarding its investment in Bitcoin
$
67,049
this December. This decision arises despite the board’s recommendations against the investment.
Contents
Board’s Recommendation
Supporters’ Viewpoint
Board’s Recommendation
In a recent filing with the U.S. Securities and Exchange Commission (
SEC
), Microsoft’s board advised shareholders to vote against the proposal to invest in Bitcoin, the most valuable
cryptocurrency
on the market.
Supporters’ Viewpoint
Proponents argue that large corporations should diversify their portfolios to combat inflation. According to this view, companies should diversify their holdings with assets that appreciate in value more than bonds.
At the time of writing, Bitcoin is trading at around $66,799, having experienced a drop of over 2% in the last 24 hours. Microsoft’s decision regarding Bitcoin investment is seen as a significant move, considering the company’s investment strategies and market conditions. The shareholder vote will clarify the company’s stance on digital currencies.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
