At the recent annual shareholder meeting, Microsoft's shareholders voted down a proposal to add Bitcoin to the company's Balance Sheet.
The proposal was put forward by the National Center for Public Policy Research (NCPPR), a free-market think tank based in Washington, D.C. NCPPR argued that adding Bitcoin is a corporate responsibility to diversify profits and increase shareholder value.
During the meeting, a pre-recorded video was played, starting with the statement: "Microsoft cannot afford to miss the next technological wave, and that wave is Bitcoin." However, the decision to reject the proposal was in line with the recommendation from Microsoft's leadership, emphasizing the company's current strategy of evaluating a range of potential investment assets, including Bitcoin, within a broader investment framework.
The recent emergence of new Derivative trading solutions, including options on the BlackRock ETF, along with increasing Liquidation on global exchanges, have reinforced Bitcoin's role as a catalyst for capital market activities. This is evidenced by the issuance of Convertible Bonds by major companies in the digital asset industry.
Microsoft's Cautious History with Bitcoin
Microsoft had previously experimented with accepting Bitcoin as a payment method in 2014, but discontinued it in 2016 due to low usage and legal issues. This stance aligns with Microsoft co-founder Bill Gates, who has long been critical of cryptocurrencies.
Bitcoin has declined 3% in the past 24 hours, contributing to the volatility in the cryptocurrency market. According to data from CoinGecko, the global cryptocurrency market Capitalization has decreased by nearly 5% over the same period, currently standing at $3.73 trillion.
Bitcoin in Corporate-Level Discussions
Despite Microsoft's rejection, discussions about the adoption of Bitcoin at the corporate level are becoming increasingly prevalent. Gordon Grant, a cryptocurrency Derivative trader, emphasized the significance of these discussions:
"The fact that one of the largest entities in the world is discussing whether to maintain a Bitcoin position on their Balance Sheet says more about the rise of Bitcoin as a premier asset, rather than the outcome of this particular decision."
Grant also pointed to the growing interest in Bitcoin as a capital market catalyst, evidenced by MicroStrategy's recent Convertible Bond issuance.
