BlackRock Set to Decide on Microsoft’s Bitcoin Strategy — BTC Treasury Under Review
Speculation around Microsoft’s upcoming shareholder meeting on December 10 has intensified after a U.S. Securities and Exchange Commission (SEC) filing revealed a proposal urging the company to allocate at least 1% of its assets to bitcoin (BTC) as a hedge against inflation.
Proposed by the National Center for Public Policy Research, this move aims to enhance shareholder value through diversification. Blackrock, which holds a 7% stake in Microsoft, will vote on the proposal. CEO Larry Fink has expressed strong support for bitcoin, viewing it as a significant commodity.
While Blackrock typically engages in corporate governance issues, Microsoft’s board recommends rejecting the proposal due to bitcoin’s volatility, which they argue undermines stable treasury management.
Clever Robot News Desk 30th October 2024
