Crypto Updates

Bitcoin Soars Towards $68K Amid Microsoft BTC Investment Filing

Bitcoin Soars Towards $68K Amid Microsoft BTC Investment Filing


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Microsoft is preparing for a critical shareholder meeting on December 10, during which the future of Bitcoin as a potential investment will be a heated topic. At present, Bitcoin is trading at approximately $68,115, which represents an increase of approximately 1.22%.

The rise in interest aligns with constant debates around the cryptocurrency as an inflation hedge, which some Microsoft investors find appealing.

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Bitcoin price up in the last 24 hours. Source: Coingecko

Microsoft’s Position On Bitcoin

Microsoft revealed in a recent application to the US Securities and Exchange Commission that it will propose evaluating Bitcoin investment during the forthcoming conference.

The National Center for Public Policy Research (NCPPR) says that Bitcoin has done better than traditional investments and could be a good way to protect against inflation.

Microsoft’s board, on the other hand, wants shareholders to vote against this plan because the company has already looked at a wide range of investable assets, including cryptocurrencies.

According to a spokesperson for the company:

“Volatility is one of the important aspects for all the investments in cryptocurrencies for corporate treasury”

This emphasizes the careful strategy that Microsoft has adopted as far as the management of its corporate treasury is concerned as well as for the benefit of enhancing the shareholders value for the long term.

The board is of the opinion that the requested public appraisal is unnecessary, as they already monitor trends and developments in the cryptocurrency sector.

Big-Wig Stockholders

Microsoft’s major shareholders include a number of major institutional investors, such as Vanguard, BlackRock, and State Street. These organizations own a large percentage of the company and have considerable power to affect its policy direction.

Although some shareholders are advocating for Bitcoin investments, others may be more in line with the board’s cautious stance.

BTCUSD trading at $67,618 on the 24-hour chart: TradingView.com

It is important to note that BlackRock has been actively increasing its Bitcoin…

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