Late yesterday, MacroScope, a financial analyst specializing in Bitcoin, uncovered a recent SEC filing indicating that Microsoft is set to vote this December on whether it should make an investment in bitcoin.
Initially, I believed it was unlikely this would transpire and assumed it would be merely fleeting excitement, particularly after spotting a point in the filing that mentions Microsoft’s board advises shareholders to vote AGAINST the “Assessment of Investment in Bitcoin” proposal.
However, MacroScope later provided an update that revealed something hopeful. Microsoft is encouraging its shareholders to oppose the proposal because their management “has already carefully evaluated this matter.”
If Microsoft were to emulate MicroStrategy (which feels surreal to even contemplate), it would signify a historic moment for Bitcoin: Microsoft is the third largest corporation globally, with a market capitalization of $3.208 trillion.
Will this really come to pass? It’s uncertain at this time. Yet, Michael Saylor has reached out to Satya Nadella, Microsoft’s Chairman and CEO, to explore this possibility. If there’s anyone capable of communicating effectively with Nadella, it’s Saylor. Moreover, numerous arguments support why Microsoft should consider investing in bitcoin, particularly given their $75 billion cash reserve that is rapidly devaluing.
That said, while Saylor recognizes the significance of retaining actual BTC on their balance sheet, he also understands that other major corporations looking to invest in Bitcoin might opt for alternative means of exposure (such as purchasing shares of spot Bitcoin ETFs). Thus, if Microsoft does decide to invest in Bitcoin, I anticipate they would probably purchase shares in BlackRock and other Bitcoin ETFs. (I’d be thrilled to be mistaken, and hope they actually acquire the BTC and hold it on their own balance sheet.)
Ultimately, one thing is clear from all of this: Bitcoin has grown too significant to be disregarded, even by the largest corporations in the world.
This article represents a Take. The views expressed are solely those of the author and do not necessarily reflect the positions of BTC Inc or Bitcoin Magazine.
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