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Microsoft shareholders are preparing for a high-stakes vote on December 10, where they will decide whether Bitcoin should be evaluated as part of the company’s corporate investment strategy. This bold proposal faces opposition from Microsoft’s board due to Bitcoin’s volatility risks.
Shareholders Prepare for Bitcoin Investment Vote
In preparation for a vote on a proposal to evaluate Bitcoin as a potential corporate investment, shareholders of Microsoft are beginning to gather.
This proposal, which was presented by a shareholder advisory board, requests for an in-depth analysis of the function that Bitcoin plays in the operations of Microsoft's treasury. The vote is scheduled to take place on December 10th, which is the day of the annual meeting of the corporation.
Proposal Calls for Comprehensive Bitcoin Evaluation
According to a document that was submitted to the United States Securities and Exchange Commission (SEC) on October 24th, the proposal makes a request that Microsoft take Bitcoin into consideration as a potential addition to its investment portfolio.
Given the growing significance of cryptocurrencies in the economy of the entire world, the advisory board that is responsible for the proposal is of the opinion that the evaluation is critically important. Within the scope of the proposal, a comprehensive analysis of the ways in which Bitcoin could improve Microsoft's Treasury operations is required.
Microsoft Board Recommends Voting Against Proposal
On the other hand, the board of directors of Microsoft has suggested that shareholders vote against the proposal. According to their statement, the corporation already conducts evaluations of a variety of assets, one of which is Bitcoin, and that this procedure is a component of their continuous financial plan, Coingape notes.
Bitcoin Volatility Cited as Key Concern
Given Bitcoin's high degree of volatility, the board of directors highlighted that the cryptocurrency is not suited for corporate investments that are intended to ensure liquidity and operational stability.
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