American multinational technology giant Microsoft recently made headlines with a filing with the US Securities and Exchange Commission (SEC), indicating potential interest in investing in Bitcoin (BTC), the largest cryptocurrency by market capitalization.
Microsoft’s potential Bitcoin investment faces opposition from the board
In his latest SEC filingMicrosoft has proposed an “Assessment of Investing in Bitcoin,” which will be voted on at the upcoming shareholders meeting scheduled for December 10.
This date will be important for both the company and the broader cryptocurrency market, as a positive outcome could further confirm Bitcoin’s growing appeal to traditional businesses and financial institutions, and demonstrate its increasing acceptance as an investment asset.
However, the filing also shows that Microsoft’s board of directors is recommending a vote against the proposal, which is increasingly in line with the views of Microsoft co-founder Bill Gates, who has been openly critical of the cryptocurrency in the past.
The Concerns About BTC Volatility
Gates has done that many times marked the “risks” associated with Bitcoin’s past volatility, especially for individuals without substantial financial resources. He has warned that while Bitcoin may be a speculative investment, it may not be suitable for everyone, especially those who cannot afford to lose their investments.
Despite his reservations about Bitcoin, Gates has recognized the potential benefits of digital currencies. He has previously emphasized the importance of transparency and regulation in the cryptocurrency space, noting the Bill & Melinda Gates Foundation’s efforts to promote digital currency initiatives that enable transparent transactions.
At the time of writing, the market’s largest cryptocurrency is trading at $68,540, up 3% in the past 24 hours and nearly 15% in the past two weeks.
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