Microsoft shareholders to vote on Bitcoin investment #CriptoNews

While Bitcoin has achieved a historic milestone of $100,000 and garnered support from prominent leaders like President-elect Donald Trump and Russian President Vladimir PutinMicrosoft (MSFT+0.22%) has yet to decide whether to invest in the cryptocurrency. The tech giant is set to make its decision this Tuesday.

On December 10, shareholders of the tech giant will vote on whether Microsoft should publicly assess adding Bitcoin to its balance sheet, according to a filing with the U.S. Securities and Exchange Commission. The board has recommended voting against the proposal, noting that Microsoft already evaluates a diverse range of investable assets, including Bitcoin, as part of its broader strategy.

The proposal, titled “Assessment of Investing in Bitcoin,” was submitted by the National Center for Public Policy Research, a conservative think tank that advocates for Bitcoin as an “excellent, if not the best, hedge against inflation.”

Despite this endorsement, Microsoft’s board of directors has remained steadfast against the proposal, stating that the company already “carefully considers this topic.” This stance aligns with the views of Microsoft co-founder Bill Gates, who has been vocal in his criticism of cryptocurrencies in the pastparticularly highlighting concerns about their speculative nature.

The upcoming vote is significant not only for Microsoft but also for the broader cryptocurrency market. A favorable outcome could further solidify Bitcoin’s status as an appealing asset for traditional corporations and financial institutions, underscoring its growing acceptance as a legitimate investment.

For Microsoft, a decision to reject the proposal would signal that it remains hesitant to follow the lead of other tech firms, such as MicroStrategy (MSTR+2.25%) and Tesla (TSLA+5.28%), which have already made substantial investments in Bitcoin. Currently, MicroStrategy holds the largest corporate Bitcoin portfoliowith 402,000 coins valued at approximately $40 billion, representing a little less than 2% of the total Bitcoin supply.