Microsoft (MSFT) Shareholders Reject Bitcoin as Balance Sheet Asset

2 days ago

Microsoft (MSFT, Financial) shareholders voted against incorporating Bitcoin into the company's balance sheet. This decision aligns with Microsoft's founder Bill Gates (Trades, Portfolio), who has been critical of cryptocurrencies. Following the news, Bitcoin's price fell nearly 3%, currently at $94,719. While Microsoft assessed diverse investable assets, including Bitcoin, the proposal was submitted by the National Center for Public Policy Research, advocating for Bitcoin as an inflation hedge. Unlike some tech companies like MicroStrategy (MSTR) and Tesla (TSLA), Microsoft remains unconvinced of Bitcoin's benefits.

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