Following MicroStrategy's impressive 313% growth upon adding Bitcoin to its balance sheet, shareholders will vote on December 10th to decide on incorporating Bitcoin into Microsoft's balance sheet. With Microsoft's current asset holdings totaling $484 billion, the vote aims to encourage shareholders to view Bitcoin as a safeguard against inflation.
However, Microsoft’s board opposes the proposal, recommending a vote against it as detailed on page 79 of the company’s proxy statement. They state that Microsoft has previously explored Bitcoin and other cryptocurrencies as part of its asset diversification strategies. While Bitcoin is often the first cryptocurrency evaluated in such considerations, Litecoin may follow. Institutional adoption is growing, with Microsoft’s second-largest shareholder, BlackRock, offering a Bitcoin ETF, and recent filings hint at the potential for Litecoin ETFs from major players like BlackRock and Fidelity in the near future. This underscores the increasing mainstream acceptance of both Bitcoin and Litecoin in corporate finance.
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