Microsoft says ‘no’ to Bitcoin, corporates say ‘bring it on’
The post Microsoft says ‘no’ to Bitcoin, corporates say ‘bring it on’ appeared on BitcoinEthereumNews.com.
Microsoft shareholders nixed a Bitcoin treasury idea, but other big-name companies disagree with this strategy. Here’s why. Bitcoin (BTC) is often likened to “digital gold,” with its fixed supply of 21 million coins making it a potential hedge against currency devaluation and inflation. And nowadays, Bitcoin’s unique characteristics make it an attractive addition to corporate treasuries. It can balance exposure to traditional assets like cash, stocks, and bonds. Bitcoin is also one of the most liquid assets globally, and its historical performance has shown significant long-term value appreciation — it reached an all-time high of over $108,000 on Dec. 17. But there’s no shortage of risks. A board might avoid adopting a Bitcoin treasury due to the coin’s extreme price volatility, which can lead to substantial losses during downturns. Also, regulatory uncertainties pose potential threats as governments refine crypto policies. Additionally, liquidity challenges during market slumps can amplify price drops when offloading assets. So it’s no wonder that, on Dec. 10, Microsoft’s board channeled the long-standing crypto skepticism of its co-founder, Bill Gates, and recommended ditching the proposa for a Bitcoin trasury. Gates himself has famously dismissed crypto as “100% based on greater fool theory” — ouch. Bitcoin evangelist and MicroStrategy Chairman Michael Saylor was busy trying to woo Microsoft when he touted Bitcoin’s own meteoric returns and bragged about MicroStrategy’s stock soaring after their BTC splurge. His pitch? Bitcoin could boost Microsoft’s market cap while acting as a financial guardian angel. Microsoft’s response? No, thanks. Meanwhile, at least 10 other companies are embracing the MicroStrategy playbook. Genius Group Genius Group, an AI-powered education group, announced in November that it had completed the purchase of 110 Bitcoin for $10 million, at an average price of $90,932 per Bitcoin. The purchase made good on a promise to employ what it called…
