Microsoft shareholders will vote in December on whether the company should publicly explore the possibility of adding Bitcoin to its balance sheet, according to a filing with the U.S. Securities and Exchange Commission.
In the filing dated Oct. 24, Microsoft revealed that an “Assessment of Investing in Bitcoin” will be presented to shareholders for a vote at a Dec. 10 meeting. However, Microsoft’s board has recommended a vote against the proposal, stating that the company already considers a broad array of investment options, Bitcoin included.
This proposal was brought forward by the National Center for Public Policy Research (NCPPR), which cited MicroStrategy’s notable Bitcoin investment strategy as an example. Despite MicroStrategy’s significantly smaller scale, its Bitcoin holdings have outperformed Microsoft’s stock by over 300% this year.
The NCPPR pointed out that institutional and corporate adoption of Bitcoin, particularly through spot exchange-traded funds, is becoming more widespread. While Bitcoin is known for its price fluctuations, the organization argues it may still offer value as a hedge against inflation and the pressures on corporate bond yields.
“At the very least, companies could consider allocating a small portion, even 1%, of their assets to Bitcoin,” the research center suggested.
As a conservative, independent organization focused on safeguarding American liberties, the NCPPR continues to advocate for Bitcoin evaluation despite Microsoft’s preference for other technological investments, particularly in artificial intelligence over blockchain.
Although a Bitcoin investment from Microsoft seems improbable, the company did accept Bitcoin as a payment method in its Xbox store from 2014 to 2018.
On Oct. 24, Microsoft (MSFT) shares saw minimal movement, closing at $424.7, up 0.03%, according to Google Finance.
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