Microsoft shareholders to consider proposal to invest in Bitcoin

The proposal to invest in cryptocurrencies came from the National Center for Public Policy Research (NCPPR). According to the authors of the initiative, Bitcoin can help Microsoft diversify its investment portfolio, protecting the company from inflation and economic instability. NCPPR said such investments could help boost a company’s shares, citing the example of MicroStrategy, whose shares rose after investing in cryptocurrencies.

According to documents filed with the SEC, Microsoft is considering investing in Bitcoin, but the company’s board of directors recommended voting against the initiative. The board deemed it “unnecessary” because Microsoft management was already studying the issue.

“Microsoft’s Global Treasury and Investment Services team evaluates a wide range of assets to fund current operations, including those that can provide diversification and protection against inflation and mitigate risks associated with rising interest rates,” it said. the company in a notice to its annual meeting of shareholders. .

In early 2024, Microsoft briefly surpassed Apple in market capitalization for the first time since 2021. Microsoft’s value exceeded Apple’s market price: $2.88 trillion versus $2.87 trillion.

On October 22, Bloomberg reported that options traders expect Bitcoin to hit a record high of $80,000 by the end of November, regardless of the results of the US presidential election. Market optimism is also supported by non-political factors, such as further rate cuts by the Federal Reserve and inflation indicators.