A policy research organization is warning Microsoft that it may face legal challenges from shareholders should it decide against investing in Bitcoin
$69,971.21
and the cryptocurrency’s value subsequently rises.
The National Center for Public Policy Research (NCPPR) is behind a proposal urging Microsoft to explore the option of investing in Bitcoin. In an upcoming shareholder meeting this December, investors will vote on whether Microsoft should add Bitcoin to its investment portfolio.
Ethan Peck, deputy director of the NCPPR’s Free Enterprise Project, said that if Microsoft openly concludes that investing in Bitcoin isn’t beneficial for shareholders and Bitcoin’s value rises, they might have legal grounds to sue the company.
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While Microsoft’s board recommends that shareholders oppose the proposal—citing that they already consider a wide array of investment assets, including Bitcoin—the initiative has nonetheless sparked important conversations. Peck noted that, regardless of the proposal’s outcome, Bitcoin supporters have made a huge impact over the past week by pushing Microsoft to seriously consider the issue.
The NCPPR initially highlighted MicroStrategy’s success with Bitcoin investments in its pitch to Microsoft. The research center pointed out that MicroStrategy has outperformed Microsoft by over 300% this year despite having less business volume.
According to BitDegree data, the price of Bitcoin stands at $68,668.22—a 0.24% increase over the past day and a 3.17% decrease over the past week.
This situation illustrates the growing influence of crypto in corporate finance and the increasing demands from shareholders for companies to consider investing in digital assets.
In other news, Florida’s Chief Financial Officer, Jimmy Patronis, is advocating for the inclusion of Bitcoin in the state’s retirement fund investments.
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.
