SEC filing on October 24 revealed that Microsoft (MSFT) shareholders will vote on whether the firm should include Bitcoin in its balance sheet. The annual meeting is scheduled for December 10 at 08:30 a.m. PST.The vote must be received by December 9, a day before the annual meeting.Bitcoin initially reacted positively to the news, trading above $68,000. Gains were also seen in other cryptocurrencies.The National Center for Public Policy Research (NCPPR) pushed the proposal. They stated that Bitcoin may be used as a hedge against inflation and bond yields. NCPPR added that Microsoft should consider using at least one percent of its assets for BTC.MicroStrategy (MSTR) was used in the research. NCPPR said that thanks to its Bitcoin allocations, the stock has outperformed Microsoft by over 250% despite ‘minimal’ business activity compared to Microsoft’s (under 70%). MicroStrategy in blue, Microsoft in purple | sourceMicrosoft opposed the proposal and asked shareholders to vote against it.“Past evaluations have included Bitcoin and other cryptocurrencies among the options considered, and Microsoft continues to monitor trends and developments related to cryptocurrencies to inform future decision making.“As the proposal itself notes, volatility is a factor to consider in evaluating cryptocurrency investments for corporate treasury applications that require stable and predictable investments to ensure liquidity and operational funding.“Microsoft has strong and appropriate processes in place to manage and diversify its corporate treasury for the long-term benefit of shareholders, and this requested public assessment is unwarranted.”It is worth noting BlackRock, Vanguard, and State Street are among Microsoft’s top shareholders.Michale Saylor, the founder and chairman of MicroStrategy, which was mentioned in the proposal, asked Microsoft’s CEO, Satya Nadella, about the project in a viral post on X.

Will other tech giants witness similar proposals?
It may encourage similar proposals if Microsoft shareholders vote to add Bitcoin to the company’s balance sheet and the stock rallies to the news.However, it may not be restricted to tech companies. The outcome of the U.S. elections is likely to be the key driver. If the elected U.S. President presents a pro-crypto stance, it may positively influence Microsoft’s vote, and new proposals from other firms may emerge.More By This Author:LC: The Best Small Cap Fintech Stock To Buy Under $20
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