As an analyst with over two decades of experience in the financial industry, I must admit that Microsoft’s decision to snub Bitcoin comes as a bit of a surprise. Over the years, I’ve seen numerous traditional companies reluctant to embrace change, but given the current market trends and the potential benefits of diversifying into cryptocurrencies, I find this move hard to justify.
Shareholders of Microsoft have rejected a proposition advocating for an initial evaluation of investing in Bitcoin.
The annual meeting of Microsoft shareholders started later today at 8:30 am PT.
According to U.Today, the National Center for Public Policy Research, a well-known conservative research organization, has suggested that Microsoft could enhance their financial portfolio by incorporating the leading digital currency, Bitcoin. They emphasized Bitcoin’s exceptional performance as a key factor in their argument.
Previously this month, Michael Saylor, the chairperson of MicroStrategy, presented Bitcoin to the board of a massive $3.3 trillion tech corporation. In a recent conversation with CNBC, Saylor proposed that Microsoft might potentially boost its market value by additional trillions if it decides to invest in Bitcoin.
Nevertheless, it seemed that Saylor’s endeavors were fruitless. The wagers placed on Polymarket suggested that there was merely a 12% probability that Microsoft’s board would approve the adoption of Bitcoin.
It is worth noting that Microsoft’s board has recommended voting against the proposal.
James Lavish, a past hedge fund manager, is confident that the board will come to regret their rejection of Bitcoin. Additionally, he foresaw that Microsoft might eventually acquire the primary cryptocurrency at a more expensive cost in the future.
Earlier, Saylor made it clear that he didn’t anticipate mega corporations would immediately adopt Bitcoin. Yet, he predicts that Bitcoin will find its place in discussions and considerations among these large corporations.
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2024-12-10 21:22