Recent updates from the Securities and Exchange Commission (SEC) reveal that Microsoft is planning to present a proposal regarding Bitcoin investment at its upcoming shareholder meeting on December 9, 2024. However, it’s still uncertain whether this proposal involves Microsoft actually adding Bitcoin to its financial assets or merely exploring it as a potential investment.
The trend of companies incorporating Bitcoin into their financial strategies began with MicroStrategy, a business intelligence firm that made headlines in 2020 by purchasing large amounts of Bitcoin during a time when many corporations were hesitant to embrace cryptocurrency.
This bold move has paid off significantly, with MicroStrategy’s stock soaring by 246% this year, largely due to the value of its Bitcoin holdings, which currently total around 252,000 BTC, equating to around $17.1 billion.
Following MicroStrategy’s lead, other companies like Tesla and Metaplanet Inc. have also started to invest in Bitcoin, recognizing its potential as a safeguard against inflation as cryptocurrency gains wider acceptance.
Despite this growing interest, some companies remain cautious. Many major tech firms in the U.S. have yet to invest in Bitcoin or include it in their financial portfolios.
In fact, Microsoft’s board is advising shareholders to vote against the proposal to consider Bitcoin as an investment, stating that the management team is already giving the matter careful thought.
