Microsoft’s Vote Against Bitcoin Investment: On December 10, 2024, Microsoft shareholders rejected a proposal to allocate 1% of the company’s 78.4 billion USD cash reserves into Bitcoin. This decision reflects growing corporate caution towards cryptocurrencies, centered on potential volatility concerns.
Concerns Over Bitcoin’s Volatility: Despite acknowledging Bitcoin’s potential benefits, Microsoft’s board emphasized its unpredictable nature as a key reason for rejection. They prioritize stability and predictability in financial strategies, aligning with a broader corporate reluctance to integrate cryptocurrencies.
Market Impacts and Industry Sentiment: Following the vote, Microsoft’s stock remained stable at around 446 USD, while Bitcoin dropped to 95,700 USD, indicating how corporate decisions influence market sentiment. This incident illustrates the ongoing skepticism within corporate finance towards digital currencies.