As reported by U.Today, Microsoft shareholders are gearing up for a big December vote on a proposal to diversify the company's balance sheet, by including major cryptocurrency Bitcoin (BTC). This development is generating interest in the space as crypto enthusiasts consider the implications of such a decision.
Anthony Pompliano has reacted to the news, indicating that Microsoft's consideration of Bitcoin comes from a broader recognition that holding cash in dollars may not be sustainable long term. The cryptocurrency is becoming more and more attractive as a digital store of value, says the entrepreneur, as more entities look for ways to save the value of their assets amid uncertain inflationary conjecture.
Godfrey BenjaminEarlier, Pompliano expressed belief that as awareness of Bitcoin's potential continues to grow, Wall Street will eventually acknowledge the opportunity cryptocurrency presents. This would all result in a significant influx of capital into Bitcoin, driving the price of Bitcoin even higher, he assured.
Alex DovbnyaThe potential for Microsoft, currently the third-largest company globally, to follow in the footsteps of industry players like MicroStrategy is still up for debate as the decision to adopt a Bitcoin strategy remains uncertain.
Stick in wheel
While interest from within the company is evident, the board has officially recommended voting against this initiative.
The proposal, brought forth by the National Center for Public Policy Research (NCPPR), asserts that corporations have a fiduciary duty to protect shareholder value from economic debasement. This raises questions about the company's stance on integrating Bitcoin into its current vision.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Tomiwabold Olajide
Godfrey Benjamin
Dan Burgin
Vladislav Sopov