Bitcoin Soars Towards $68K Amid Microsoft’s BTC Investment SEC Filing

Christian Encila

7 months ago

3 mins read

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Microsoft is preparing for a critical shareholder meeting on December 10, during which the future of Bitcoin as a potential investment will be a heated topic. At present, Bitcoin is trading at approximately $68,115, which represents an increase of approximately 1.22%.

The rise in interest aligns with constant debates around the cryptocurrency as an inflation hedge, which some Microsoft investors find appealing.

Bitcoin price up in the last 24 hours. Source: Coingecko

Microsoft’s Position On Bitcoin

Microsoft revealed in a recent application to the US Securities and Exchange Commission that it will propose evaluating Bitcoin investment during the forthcoming conference.

The National Center for Public Policy Research (NCPPR) says that Bitcoin has done better than traditional investments and could be a good way to protect against inflation.

JUST IN: Per an SEC filing, Microsoft will have a proposed board resolution for an “Assessment of Investing in Bitcoin”.

The board is recommending that shareholders vote AGAINST the proposal. pic.twitter.com/0WveygitH9

— TFTC (@TFTC21) October 24, 2024

Microsoft’s board, on the other hand, wants shareholders to vote against this plan because the company has already looked at a wide range of investable assets, including cryptocurrencies.

According to a spokesperson for the company:

“Volatility is one of the important aspects for all the investments in cryptocurrencies for corporate treasury”

This emphasizes the careful strategy that Microsoft has adopted as far as the management of its corporate treasury is concerned as well as for the benefit of enhancing the shareholders value for the long term.

The board is of the opinion that the requested public appraisal is unnecessary, as they already monitor trends and developments in the cryptocurrency sector.

Big-Wig Stockholders

Microsoft’s major shareholders include a number of major institutional investors, such as Vanguard, BlackRock, and State Street. These organizations own a large percentage of the company and have considerable power to affect its policy direction.

Although some shareholders are advocating for Bitcoin investments, others may be more in line with the board’s cautious stance.

BTCUSD trading at $67,618 on the 24-hour chart: TradingView.com

It is important to note that BlackRock has been actively increasing its Bitcoin holdings through its ETFs. BlackRock’s iShares Bitcoin Trust ETF has registered inflows to the tune of over $317 million in a 24-hour timeframe, according to recent reports.

This trend implies that there is an increasing institutional interest in Bitcoin, despite Microsoft’s reluctance to implement comparable measures.

The Road Ahead

As the December conference gets ready, the debate about Bitcoin’s importance in Microsoft’s investment plan gets more intense.

The NCPPR argues that businesses should commit at least 1% of their whole assets to Bitcoin to help to reduce inflation risks. Despite this project, Microsoft insists that its present corporate treasury distribution policies are sufficient.

Bitcoin has experienced a nearly twofold increase in value in the past year and has recorded a remarkable 414% increase over the past five years. Although Microsoft may not be completely prepared to invest in cryptocurrency investments at this time, the increasing interest from institutional investors such as BlackRock suggests that the discourse surrounding Bitcoin is far from over.

Microsoft’s upcoming shareholder meeting will be the focus of all attention, and it is uncertain whether the tech giant will alter its position on cryptocurrencies or maintain its commitment to stability in its investment strategy.

Featured image created with Dall.E, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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