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Microsoft Reject Bold Bitcoin Reserve Investment Proposal

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  • Microsoft shareholders reject Bitcoin reserve plan, citing volatility risks.
  • Board emphasizes stability over speculative cryptocurrency investments.
  • Shareholders dismissed a proposal to invest 1%-5% profits in Bitcoin.

Microsoft rejected a proposal to adopt Bitcoin as a reserve asset during the annual meeting. The board cited Bitcoin’s volatility, a commitment to financial stability and long-term growth.

Microsoft Shareholders Reject Proposal to Adopt Bitcoin as a Reserve Asset

Microsoft shareholders rejected the adoption of Bitcoin into its balance sheet during the annual general meeting held on 10 December. The proposal was submitted by National Center for Public Policy Research (NCPPR) and presented a plan to diversify profits through Bitcoin investments. However, the board rejected the proposal due to crypto volatility and its existing strategies.

The NCPPR, an organization that supports free-market policy, stated that acceptance of Bitcoin could create considerable value for Microsoft’s shareholders. NCCPR recommended that Microsoft should invest between 1% to 5% of its profits in Bitcoin as a hedge against inflation. However, the board stressed the need for predictability and stability in corporate treasury applications.

Is Bitcoin Adoption Reliant on FOMO and Speculation?

The proposal also discussed other tech businesses like MicroStrategy and Tesla which have adopted Bitcoin reserves. NCCPR noted the potential of the Bitcoin market and claimed that Microsoft could be a leader in the sector. However, the board denied the comparison of Microsoft with the other firms because it has different operations and investment activities.

The proposal included a recorded video which presents the benefits of Bitcoin adoption such as hedges against inflation and provides long-term returns. Moreover, BlackRock, the second-largest Microsoft shareholder, offers Bitcoin ETFs to its clients. Nevertheless, the board stated that the company’s financial processes provided adequate capacity for risk management and diversification of their reserves.

Before the vote, Bitcoin advocate Michael Saylor encouraged the Microsoft board to invest in Bitcoin which has growth potential. In a three minute pitch to Microsoft, Saylor insisted that Bitcoin could add almost $5 trillion of value to the company. However, the board rejected Saylor’s proposal and reiterated its adherence to cautious financial management strategy.

Shareholders Align with Microsoft and Gates on Bitcoin Rejection

Microsoft has stressed its focus to assess various investment opportunities and sustainable long-term shareholder returns. The board continues to adhere to the strategy which focuses on liquidity and operational funding for continued growth. Additionally, the adoption of Bitcoin as a reserve asset was opposed by the shareholders.

The rejection mirrors the position of Microsoft co-founder Bill Gates, who has criticized the speculative nature of cryptocurrencies. Gates has expressed concerns about potential risks associated with cryptocurrencies. Meanwhile, the NCPPR has submitted a similar proposal to Amazon, which will be reviewed in April 2025.

Will Microsoft Become a Bitcoin Powerhouse? Saylor’s Bold Move

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  • Michael Saylor, a prominent Bitcoin advocate, has urged Microsoft to consider adopting BTC.
  • Saylor’s pitch to Microsoft could potentially influence other major tech companies to explore Bitcoin integration.
  • As CEO of MicroStrategy, Saylor has been a leading voice in corporate Bitcoin adoption, making substantial investments in the cryptocurrency.

Bitcoin evangelist and MicroStrategy CEO Michael Saylor, has advocated for Microsoft to adopt Bitcoin as a core strategic asset, emphasizing its role as a revolutionary form of digital capital. Saylor’s ambitious pitch aligns with a broader shift toward blockchain technologies, which could complement Microsoft’s existing focus on cloud, AI, and digital infrastructure.

The entrepreneur made key points in his arguments pushing for BTC integration as well as the implications. In his speech, Saylor presented BTC as an advanced form of capital compared to physical or traditional financial assets, offering better preservation and growth potential. He doubled down on BTC’s potential to transform global wealth allocation due to its immunity to inflationary and counterparty risks.

Bitcoin
Will Microsoft Become a Bitcoin Powerhouse? Saylor's Bold Move 2

As per Saylor, investing in Bitcoin would significantly reduce exposure to depreciating assets like bonds or stagnant strategies like stock buybacks. With a focus on Bitcoin adoption, large firms like Microsoft can work towards creating enterprise value, boosting shareholder returns, and aligning with emerging trends in public and institutional support.

Describing the current time as the Crypto Renaissance, Saylor declared that BTC adoption is an inevitable part of the next technological and economic wave, comparing it to past innovations that reshaped industries. He called upon firms to embrace BTC and gain a competitive edge before lagging becomes expensive.

Model for Bitcoin Integration

In his 3-minute long presentation, Saylor also discussed an “open source model” which can be used as a tool for companies to calculate the financial benefits of integrating Bitcoin into their strategies. By converting traditional assets into BTC, companies can improve both their stock prices and enterprise valuation. The statement concludes with a choice between holding to traditional methods or embracing Bitcoin as a catalyst for accelerated growth and risk mitigation.

While Saylor’s speech aligns with a broader shift toward blockchain technologies, both small and big corporations like Microsoft should need to carefully weigh the risks of BTC’s volatility and regulatory uncertainties against the potential long-term rewards of early adoption.

Furthermore, it would need to be backed by robust financial analysis and alignment with Microsoft’s strategic goals to convince stakeholders. The mention of the open-source model could help evaluate feasibility and outcomes.

Microsoft Shareholders to Vote on Bitcoin Investment Assessment Proposal

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  • Microsoft shаrеholdеrs will votе on Dеcеmbеr 10 rеgаrding thе аssеssmеnt of Bitcoin invеstmеnt fеаsibility.
  • Thе NCPPR’s proposаl citеs MicroStrаtеgy’s succеssful Bitcoin strаtеgy outpеrforming Microsoft’s stock this yеаr.
  • Microsoft’s boаrd rеcommеnds аgаinst thе proposаl, еmphаsizing focus on stаblе invеstmеnts ovеr Bitcoin.

Microsoft shаrеholdеrs аrе prеpаring to votе on Dеcеmbеr 10 to dеtеrminе whеthеr thе tеch giаnt should publicly аssеss thе fеаsibility of invеsting in Bitcoin. This dеvеlopmеnt еmеrgеd from аn Octobеr 24 filing with thе Unitеd Stаtеs Sеcuritiеs аnd Exchаngе Commission, in which Microsoft outlinеd thе proposаl titlеd “Assеssmеnt of Invеsting in Bitcoin.” 

Thе proposаl wаs аdvаncеd by thе Nаtionаl Cеntеr for Public Policy Rеsеаrch (NCPPR), аn indеpеndеnt consеrvаtivе think tаnk known for аdvocаting frее-mаrkеt principlеs. Thеy point to thе succеss of businеss intеlligеncе firm MicroStrаtеgy, whosе Bitcoin invеstmеnt strаtеgy hаs significаntly outpеrformеd Microsoft’s stock pricе in 2024.

Furthеrmorе, thе NCPPR еmphаsizеs thе growing trеnd of institutionаl аdoption of Bitcoin through spot еxchаngе-trаdеd funds (ETFs), which signifiеs thе cryptocurrеncy’s incrеаsing lеgitimаcy within thе finаnciаl lаndscаpе.

Microsoft
Source: SEC

Microsoft Board Opposes Bitcoin Proposal

Whilе аcknowlеdging thе growing populаrity of cryptocurrеnciеs, Microsoft’s boаrd of dirеctors rеcommеnds shаrеholdеrs votе аgаinst thе proposаl. Thеy mаintаin thаt thе compаny аlrеаdy rigorously еvаluаtеs а broаd rаngе of invеstmеnt options, including Bitcoin. Thе boаrd еmphаsizеd thаt thеir еxisting procеssеs prioritizе stаblе аnd prеdictаblе аssеts to еnsurе long-tеrm finаnciаl stаbility аnd opеrаtionаl liquidity.

“Microsoft hаs strong аnd аppropriаtе procеssеs in plаcе to mаnаgе аnd divеrsify its corporаtе trеаsury for thе long-tеrm bеnеfit of shаrеholdеrs,” thе compаny stаtеd in thе filing. Thеy аrguеd thаt а public аssеssmеnt is “unnеcеssаry” givеn thеir ongoing intеrnаl еvаluаtions.

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Source: Macroscope

Thе NCPPR аcknowlеdgеs thе cryptocurrеncy’s volаtility but аrguеs it could bе а vаluаblе hеdgе аgаinst inflаtion аnd dеclining corporаtе bond yiеlds. Thеy proposе thаt “аt minimum, compаniеs should еvаluаtе thе bеnеfits of holding somе, еvеn just 1% of its аssеts in Bitcoin.”

Microsoft’s Focus on AI Expansion

Microsoft hаs not bееn еntirеly distаnt from cryptocurrеncy; from 2014 to 2018, thе compаny аccеptеd BTC pаymеnts аt its onlinе Xbox storе, hinting аt prеvious opеnnеss to cryptocurrеncy. Howеvеr, rеcеnt strаtеgic invеstmеnts rеvеаl а strongеr focus on аrtificiаl intеlligеncе (AI) thаn blockchаin tеchnology. This yеаr, thе compаny invеstеd $1.5 billion in UAE-bаsеd AI firm G42, indicаting its invеstmеnt prioritiеs in еxpаnding its AI portfolio ovеr blockchаin.

Mеаnwhilе, Microsoft’s stock (MSFT) rеmаinеd rеlаtivеly stеаdy, incrеаsing by just 0.03% on Octobеr 24, closing аt $424.7, аccording to dаtа from Googlе Finаncе. Thе compаny’s currеnt mаrkеt vаluаtion stаnds аt $3.157 trillion, showcаsing thе tеch giаnt’s significаnt position in thе globаl mаrkеt. 

Related Readings | Shiba Inu Set to Revolutionize Trading with Massive Launch of ShibaSwap 2.0

Aptos Severs Ties With Microsoft, Triggering Over 750% Surge In Trading Volume

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The 24-hour trading volume of Aptos (APT), the backbone cryptocurrency of the layer-1 blockchain Aptos Network, has surged by an impressive 750% following the announcement of its strategic collaboration with Microsoft’s suite of artificial intelligence tools. This partnership aims to accelerate the adoption of Web3 technology within the realm of banking and financial enterprises.

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Source: Coinmarketcap

Simultaneously, APT’s market value has witnessed a noteworthy uptick over the past 24 hours, marking a substantial gain of approximately 12%. Over the course of the last seven days, the token’s price has also exhibited a notable surge, with an increase of around 8%. The recent trajectory of APT’s value suggests a positive movement, with the token’s trading position currently hovering within the area of $8.

APT 1D graph coinmarketcap
Source: Coinmarketcap

If APT surpasses its current threshold, a potential surge of 65% to the next resistance level at $13 could be in the offing. However, as of August 09, market sentiment concerning its price projection appears neutral. A comprehensive analysis of 15 technical indicators has signaled a bullish trajectory, juxtaposed with 7 indicators suggesting a bearish sentiment.

Drawing from last month’s performance metrics, experts at DigitalCoinPrice have forecasted a continued bullish momentum for APT. At the present moment, it is being traded at $7.43, with projections indicating a possible peak at $16.15 in the near future.

Nevertheless, considering the inherent volatility of the token’s price movements, experts have projected a potential decline of -12.87% in APT’s value as we approach the outset of September 2023. Market participants are advised to remain vigilant and consider the potential fluctuations inherent to cryptocurrency investments.

Aptos’s Partnership With Microsoft

In an announcement via a Twitter thread, Aptos Labs has set a new milestone today. The company has entered into a strategic partnership with tech giant Microsoft to pave the way for Web3 integration on the Aptos Network. As a Microsoft Partner, the collaboration will introduce an array of AI-powered tools that facilitate seamless global access to Web3 for developers and users.

Central to this partnership is the launch of Aptos Assistant, an intuitive Web3 onboarding tool fueled by Aptos and Microsoft’s AI capabilities. Through natural language guidance, users will be adeptly ushered into Web3 essentials and beyond. This tool empowers creators to build smart contracts and decentralized applications.

Furthermore, Aptos Labs and Microsoft are set to explore the realms of AI and Decentralized Finance (DeFi), aiming to revolutionize facets such as asset tokenization, payments, and Central Bank Digital Currencies. These advancements aim to drive the widespread adoption of Web3 within financial enterprises.

The collaboration also addresses cybersecurity. Aptos will operate validator nodes on Microsoft’s Azure platform, bolstering the security of the Aptos blockchain with the robustness and reliability associated with Microsoft.

Related Reading | Bitcoin’s Enduring Presence Backed by Financial Titans: David Rubenstein

Microsoft’s Edge Browser Dives Into Crypto: Is This the Future Of Browsing?

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Microsoft has made a bold move by integrating a non-custodial crypto wallet into their default Edge browser. A software documenter discovered this experimental feature and went by the pseudonym “Albacore.” The screenshots released by Albacore show that the wallet has NFT functionality and integrates Coinbase and Moonpay.

In detail, the screenshots depict a user interface that includes a cryptocurrency wallet, a decentralized application explorer, a news feed, and the ability to purchase cryptocurrency via Coinbase and MoonPay. However, the feature is currently hidden and not accessible to users. 

Albacore warns that Microsoft tests many features that never make it to production but confirms that the Edge wallet functions correctly. Albacore believes that a rollout of the feature is possible, given that he was able to use it without any issues.

Edge Browser’s Crypto Integration Sparks Mixed Reactions

Many users have expressed mixed feelings about this integration. Some have criticized it, claiming that crypto is a tool for fraud and has no place in a browser, let alone one shipped with the OS. Others have defended the integration, saying everything should be in the browser nowadays.

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Some users have expressed concern about Edge becoming too cluttered with features, while others have lamented the bloat that has been added to the once-clean browser. Some have even expressed a desire for a variation of Edge that does not have all the “freaking nonsense.”

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Despite these criticisms, some users have suggested that this integration makes sense as a first-party extension if Microsoft wants to invest in crypto. However, they also noted that it is not necessary as an integrated part of a general-purpose browser, as most users will never care about crypto.

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Interestingly, some users have pointed out that Microsoft no longer seems interested in extensions, preferring to implement features directly into the browser instead. They have started integrating their existing extensions into the browser rather than making new ones.

It remains to be seen how the broader community will receive this integration. Will it attract crypto enthusiasts and drive the adoption of Edge, or will it turn off users looking for a more streamlined browsing experience? 

Related Reading | Cardano Goes Full P2P With The Launch Of Node 1.35.6

Microsoft joins $450M funding of crypto start-up ConsenSys

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Tech giant Microsoft Corp co-led a $450 million funding of New York-based start-up ConsenSys. The financial round was backed by ParaFi Capital, Temasek Holdings, and SoftBank Group Corp which doubled ConsenSys’s valuation to $7 billion.

ConsenSys was founded in 2014 by Joseph Lubin, a co-founder of Ethereum, the world’s second-biggest cryptocurrency. The firm’s most popular products include the MetaMask digital asset wallet and Infura, a suite of tools that helps developers build Ethereum apps.

The recent capital injections highlight the firm’s positive outlook by investors who see the former as one of the companies that will power Web3. It has also managed to secure funds into areas such as decentralized finance, or DeFi, and nonfungible tokens, NFTs.

Besides that, ConsenSys said all the proceeds from its latest round would be converted into the ether. The funds will be utilized for recruiting additional 600 employees, an updated version of MetaMask that would be launched later this year, and expanding its NFT business.

That said, Microsoft’s involvement underscores the growing interest from the world’s largest tech firms in Web3. Last year, its venture fund M12 led a $27 million early-stage funding round in Palm NFT Studio, a start-up also co-founded by Lubin.

Microsoft ‘s Rendezvous With Crypto And Metaverse

The software firm began its first step by working towards integrating blockchain and cryptocurrencies in its business structure. The company last month announced a new job opening for a “Director of Business Development – Cryptocurrencies” on its career website. The role is integrated into its AI and Emerging Technologies business development team, which is the company’s spearhead division for emerging new technologies. 

Next, Microsoft’s acquisition of $68.7 billion gaming giant Activision Blizzard made it clear that the tech firm’s ambition was not limited to video game domination. In fact, gaming is the crucial vehicle to help power Microsoft’s metaverse plans.

In a press release published in January, the firm wrote that buying the “Call of Duty” and “Warcraft” maker “will provide building blocks for the metaverse.” Later Microsoft CEO Satya Nadella reportedly said that gaming “will play a key role in the development of metaverse platforms.”

Microsoft dives into Metaverse and DeFi with Teams and Xbox updates

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The United States tech giant Microsoft is diving into the Metaverse through fresh updates to Microsoft Teams and its Xbox gaming console services. It has also planned to launch a new product named “Dynamics 365 Connected Spaces.” Metaverse technology is responsible for fusing cryptocurrencies, blockchain technology, non-fungible tokens, and blockchain gaming.

On November 2, during the famous Microsoft Ignite conference, Satya Nadella, the Chief Executive Officer (CEO) of the company, announced his plans for Teams and Spaces.

Nadella also tweeted about the company’s strategic plans with a brief video attached to it. In the video he said:

“The Metaverse enables us to embed computing into the real world and to embed the real world into computing. Bringing real presence to any digital space. What’s most important is that we are able to bring our humanity with us, and choose how we want to experience this world.”

Teams will roll out the initial set of updates in 2022 to offer users their personalized virtual avatars and 3-D immersive spaces. The company has made the system in such a way that the Metaverse can be accessed from any device with zero special equipment requirements.

Several organizations will also have the option to create custom spaces to conduct contexts like professional meetings and “social mixers.”

Connected spaces by Microsoft

Microsoft’s new product, Dynamics 365 Connected Spaces, is ready for its first preview in December. It will blend the Metaverse with artificial intelligence to help businesses increase their experience and efficiency.

Connected Space’s General Manager Vishal Sood posted a blog recently where he mentioned that the product is helpful to analyze observational data from cameras from the factory floor, which is called a “hybrid work environment.”

Nadella, during an interview with Bloomberg, said that Xbox is definitely working on the integration of Metaverse into its gaming services. He, however, didn’t comment on any concrete strategy for the gaming sector.

Microsoft has added itself to the list of major companies that are planning on Metaverse. Previously, Nike has also revealed its application for trademarks of its iconic logo along with the slogan saying” online virtual worlds.” Additionally, the footwear giant has posted two job listings for digital material designers.

Binance Announces Stock Tokens For Microstrategy, Apple, Microsoft

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Cryptocurrency exchange, Binance announced support for three stock tokens of industry behemoths – Microstrategy [MSTR], Apple [AAPL], and Microsoft [MSFT] today.

The stock token for business intelligence company, Microstrategy [MSTR/BUSD] will be listed on the 26th of April while that of American multinational tech firms Apple [AAPL/BUSD] and Microsoft [MSFT/BUSD] will be made available on the 28th and 30th of April respectively.

The stock tokens on Binance’s platform are shares of public companies that trade on traditional stock exchanges. The Malta-based cryptocurrency exchange had previously detailed that each Stock Token represents one ordinary share of the relevant stock which is completely backed by a depository portfolio of underlying securities maintained by its partner CM-Equity AG, Germany who are tasked with monitoring all trading activity for compliance.

Binance competitors such as FTX as well as Bittrex Global also offers trading in stock tokens through CM-Equity.

The Founder and CEO of the platform, Changpeng ‘CZ’ Zhao had recently asserted that the latest move was the indication of seamless democratization of value transfer by reducing friction and costs to accessibility, without bargaining on factors such as compliance or security.

The latest development comes around two weeks after Binance announced venturing into the space of tokenized stock trading with the listing of Tesla stock tokens, which allowed the exchange’s users to buy Tesla tokens representing its shares.

Binance’s Stock Token Raises Red Flag

Binance had come under the scrutiny of the European watchdogs including the UK’s Financial Conduct Authority [FCA] for its stock token offering that was launched earlier this month. According to reports, the regulators were now probing whether it adhered to security rules before rolling out.

The UK’s Financial Conduct Authority was quoted saying to the Financial Times that it was working with Binance to examine the product, “the regulations that may apply to it and how it is marketed”. It also went on to add that,

“..firms and their senior management teams are responsible for determining whether their products and services fall within the remit of the FCA.”