Due to the strong shareholder vote against the Bitcoin investment proposal, Microsoft rejected the proposal.
Microsoft is a popular global technology company founded in 1975. This company is mainly known for its computer and laptop-focused software products such as Windows, Office, and cloud services. The company also develops innovative technology devices, including Xbox and Surface devices. In recent years, Microsoft has achieved a high level of achievement in the area of ​​Artificial Intelligence (AI) and cloud computing.
As we previously reported, the National Center for Public Policy Research proposed a “Bitcoin Investment Assessment,” a proposal in which Microsoft should consider allocating 1% of its total assets to Bitcoin, to diversify the company’s portfolio and fight inflation.
According to the latest reports, Microsoft leadership decided to reject the Bitcoin investment proposal on behalf of shareholders who voted against the proposal.
Although former Microstrategy CEO Michael Saylor was involved in supporting this proposal, the decision to reject it was almost confirmed because the company’s management had already urged shareholders to vote against the proposal.
Two new hopes for the Bitcoin market
However, this news is very bad for the Bitcoin sector, but the other side of the Bitcoin sector is ready to see new developments around Bitcoin.
According to the latest reports, the Nasdaq 100 index and the S&P 500 may add Bitcoin, but the final decision will depend on the new accounting rule, which is expected to change in 2025.
Bitcoin price action
The current trading price of Bitcoin ($BTC) is $96,897. This price level is down 0.19% over the last 24-hour period.
The Bitcoin price chart clearly shows that the market faced a significant correction in the price level but suddenly recovered.
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