Global giants Microsoft and Amazon are reportedly considering adding Bitcoin to their treasuries. Particularly, Microsoft’s decision is expected to come to light this evening. Experts suggest that if Microsoft embraces cryptocurrencies, the trend could “spread across all major corporations.”
Microsoft and Amazon’s Bitcoin Decision Nears
Microsoft shareholders are set to vote on December 10 on whether the company should add Bitcoin to its balance sheet. This vote comes as Bitcoin reaches an all-time high of $103,679. Additionally, with global leaders like Donald Trump and Vladimir Putin showing support for cryptocurrencies, a favorable outcome could significantly amplify global enthusiasm.
Experts speaking to CNBC-e anticipate that a positive vote could spark a new wave of corporate adoption. “If Microsoft agrees to add Bitcoin to its treasury, it will set an example for other major companies to follow,” they said, adding that Microsoft could serve as a benchmark in this regard.
Proposal Details and Management’s Stance
The proposal, titled “Evaluating Investment in Bitcoin,” was submitted by the National Center for Public Policy Research, describing Bitcoin as “an excellent hedge against inflation.” However, a Quartz report based on an SEC filing reveals that Microsoft’s board of directors has recommended rejecting the proposal.
The board stated that the company has already considered various assets, including Bitcoin, as part of its current investment strategy. In a recent statement, the board noted, “The company is carefully evaluating this matter as part of our broader financial framework,” a comment included in its SEC filing.
Bill Gates’ Skeptical Stance on Cryptocurrencies
Microsoft co-founder Bill Gates has consistently expressed skepticism toward cryptocurrencies, often citing their speculative nature. His stance aligns with the board’s position and further diminishes the likelihood of shareholder approval for the proposal.
While tech giants like Tesla and MicroStrategy have embraced Bitcoin, Microsoft has yet to take this step. For instance, MicroStrategy currently holds 423,650 BTC worth approximately $42 billion, making it the largest corporate Bitcoin holder. As previously reported by Kriptokoin.com, the company made another BTC purchase on December 9.
Microsoft shareholders will vote this evening on the proposal to add Bitcoin to its balance sheet. The board has recommended rejecting the proposal, citing sufficient existing strategies. Bill Gates’ skeptical stance further reduces support for the initiative. While Tesla and MicroStrategy have invested in Bitcoin, Microsoft has yet to make a move in this space.
