Microsoft, the technology giant, has announced plans to hold a shareholder vote in December to determine whether or not to invest in Bitcoin. This decision comes despite the board’s recommendation against such an investment.
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, which is currently the most valuable cryptocurrency on the market.
However, proponents of the investment argue that large corporations should diversify their portfolios in order to combat inflation. They believe that companies should hold assets that appreciate in value more than bonds.
As of now, Bitcoin is trading at approximately $66,799, with a decrease of over 2% in the last 24 hours. Microsoft’s decision to consider investing in Bitcoin is seen as a significant move, taking into account the company’s investment strategies and the current market conditions. The shareholder vote will provide clarity on the company’s stance towards digital currencies.
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Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry significant risks. It is advised that investors conduct their own research before making any investment decisions.