According to reports, the shareholders rejected the proposal because of concerns about volatility and lack of confidence in current financial processes. Ray Dalio recently supported Bitcoin and gold to hedge against an upcoming debt crisis. Eric Trump also predicted that Bitcoin would reach $1,000,000. Bitcoin mining company MARA Holdings increased its Bitcoin holdings from 40,435 BTC to $3.92 Billion and reached a record 50 EH/s Hashrate.
Microsoft’s Treasury Strategy Remains Traditional Despite Bitcoin
Microsoft shareholders rejected the proposal of adding Bitcoin (BTC), to the balance sheet, during their annual meeting held on December 10. Microsoft shareholders rejected a proposal to add Bitcoin (BTC) to the company’s balance sheet during their annual shareholder meeting on Dec. 10.
It was suggested that Microsoft allocate 1%-5% of its profits for Bitcoin investment and highlighted the transformative potential of Bitcoin. It was also stated that the proposal could generate trillions of dollars in value, while reducing risks to shareholders.
NCPPR showed a video that was pre-recorded to support its proposition. In the video, BlackRock’s Bitcoin Strategy and MicroStrategy Bitcoin ETF were cited as examples of Bitcoin’s increasing institutional adoption. Think tank described Bitcoin’s volatility but said that failing to address it would jeopardize shareholders interests.
Michael Saylor, a Bitcoin proponent who spoke to Microsoft’s Board of Directors, said that Bitcoin would add $5 trillion in value to Microsoft’s stock market. Microsoft’s Board dismissed these arguments as unneeded due to the robust corporate treasury management processes that Microsoft already has in place to guarantee stability and predictability.
The board of directors referred specifically to Bitcoin volatility in its filings with the U.S. Securities and Exchange Commission. It also stated that they are confident about the current company strategies and their long-term benefit for shareholders. In addition, the board dismissed any comparisons with MicroStrategy because of some differences between the two firms’ approaches towards the cryptocurrency market. The board was able to align the shareholders by having them vote against the resolution.
NCPPR has pursued initiatives similar to these with major corporations. The group sent a proposal on Dec. 8 to Amazon and suggested Bitcoin as a way of protecting shareholder value and hedging against inflation. The proposal will be discussed at Amazon’s annual shareholder meeting, which takes place in April 2025.
Ray Dalio Warns Debt Crisis, Backs Bitcoin
Rumors say that companies and individuals who are not on board the Bitcoin train right now may regret their decision soon. Ray Dalio, a billionaire investor who recently expressed his concern about an upcoming global financial crisis linked to unsustainable levels of debt, urged people and companies to pivot towards hard assets such as Bitcoin and gold.
Dalio spoke at a financial event in Abu Dhabi about the unheard of debt in countries like China and the United States. Dalio warned of a possible debt crisis in coming years and the devaluation of the dollar.
Ray Dalio ( South China Morning Post)
Dalio reminded people that they should avoid debt, such as bonds. He also stressed the importance of paying attention to broader economic factors rather than market fluctuations. Dalio also believes that hard currency is important and has suggested Bitcoin and gold as options to investors who want to protect themselves against inflation. Dalio, who had previously questioned the value of Bitcoin and other cryptocurrencies, has recently changed his mind. He now advocates its inclusion in portfolios. He even suggested allocating up to 2 percent of an investment portfolio to Bitcoin in 2022 to combat inflationary pressures.
The endorsement came amid wider debates on Bitcoin’s place in national financial strategy. Peter Schiff, a gold advocate who advocates for the Biden Administration to sell Bitcoins held by the U.S. Government in order to reduce its budget deficit by 2024 and combat what he called the damaging idea of establishing a U.S. Strategic Bitcoin Reserve.
Eric Trump predicts Bitcoin will hit $1 million
Eric Trump, executive vice-president of the Trump Organization, and the son of Donald Trump (the president elect), shared a very positive vision of Bitcoin in a speech that he gave at the Bitcoin MENA conference held on December 10th, Abu Dhabi. Trump said that Bitcoin would eventually hit $1,000,000 per coin and called the cryptocurrency a financial paradigm capable of changing the global economy. Trump believes that Bitcoin is a great store of value, as well as an insurance against natural disasters, inflation and political instability.
Trump said that it often takes time for revolutionary technologies to be accepted by the masses. Trump also mentioned that Bitcoin’s limited supply of 21,000,000 coins is a feature unique to the currency, which will help it maintain its long-term value. Trump’s latest prediction has seen him join other prominent advocates such as Michael Saylor, Cathie wood, and others who have predicted that BTC will reach $1 million.
Eric Trump in Abu Dhabi (YouTube ).
Trump also emphasized the importance early adoption and warned those who do not embrace Bitcoin or digital currencies that they risk being left behind. Trump referred specifically to cryptocurrency’s growing popularity among large institutions. He shared a story about his friend, whose bank was one of the largest in the world, which recently opened a crypto desk.
Trump ended his speech with a celebration of Bitcoin reaching $100,000 for the very first time. Trump also thanked the Bitcoin community and reaffirmed the Trump family’s commitment to the cryptocurrency.
MARA Buys $1.1 Billion in Bitcoin
MARA Holdings Inc., a Bitcoin mining company that has been around since 2009, increased its Bitcoin stock after buying 11,774 BTC on December 10 for $1.1 Billion. This crypto was purchased at an average of $96,000 for each Bitcoin and was funded by a zero-coupon convertible note offer that took place last month. MARA now has 40,435 BTC worth approximately $3.92 Billion at current prices.
In the fourth quarter, the company posted a yield of 12.3% BTC and for the entire year it was 47.6%. The percentage change in Bitcoin is based on the number of fully-diluted shares. MARA has implemented a Treasury policy to keep all Bitcoins it mines, while using capital market instruments in order to increase its reserves. This is very similar to MicroStrategy’s strategy.
MARA has also reached a significant milestone with its mining operations. In 2024, the company doubled its hashrate to 50 exahashes/second (EH/s). MARA was the first Bitcoin miner in public to reach this benchmark.
MARA stock has experienced mixed results despite these achievements. The stock closed at $22.81 down 4.4% on December 10th, and has seen only minimal recovery after hours. MARA stock has fallen 0.55% year-to-date compared to the 586% increase it experienced during market recovery in 2023.
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