Key Points
- Microsoft voted against the Bitcoin assessment proposal, according to preliminary votes.
- Bitcoin’s price recovered following yesterday’s dip, amidst optimism triggered by bullish upcoming events.
Yesterday, Microsoft’s shareholders rejected the proposal for a Bitcoin Diversification Assessment at the company’s annual meeting, causing turmoil in the markets.
The move triggered a short-lived BTC price drop, but the digital asset’s price recovered, fueled by optimism in the crypto space related to bullish upcoming events.
Bitcoin’s Price Rebounds Above $97,000
On December 10, preliminary votes revealed that Microsoft shareholders voted against a Bitcoin proposal that would have assessed the viability of the digital asset to be included in the company’s portfolio.
Bitcoin recorded a price drop from $98,000 levels to around $94,000, ahead of a quick bounce back above $97,000. At the moment of writing this article, BTC is trading above $97,600, up by 0.5% in the last 24 hours, following yesterday’s dip.
In October, Microsoft’s Board of Directors recommended shareholders to vote against a proposal for a Bitcoin Diversification Assessment at the company’s annual meeting on December 10.
The recommendation was motivated by the fact that Microsoft’s management is already carefully considering the topic and the assessment is unnecessary.
Despite some panic reactions in the market, the preliminary votes against the Bitcoin proposal might not necessarily mean that Microsoft will not buy Bitcoin; it might simply mean that they don’t consider an assessment necessary at this time, given that they already considered the topic.
Two months ago, we revealed that a Microsoft statement that opposed the proposal also stated that past evaluations of the company already included Bitcoin and other digital assets.
Meanwhile, other bullish events take place in the crypto industry, setting the path for an optimistic future.
MicroStrategy (MSTR) to Be Added to the Nasdaq 100 Index
Bloomberg analysts Eric Balchunas and James Seyffart expect MicroStrategy (MSTR) to be added to the Nasdaq 100 index this month, with an upcoming announcement this week.
Also, inclusion in the S&P 500 might follow next year, according to Balchunas’ predictions made in his December 10 X post.
MicroStrategy started buying Bitcoin in 2020, opening the doors for institutional investment in BTC, and setting the path for more companies to follow its Bitcoin strategy.
Bitcoin remains in the spotlight after hitting one ATH after another in Q4, amidst optimism surrounded by the upcoming Trump administration and more crypto-friendly policies.
Trump’s son, Eric Trump also praised Bitcoin during the Bitcoin MENA event in Abu Dhabi.
Bitcoin Could Reach $1 Million
Eric Trump, executive vice president of the Trump Organization, delivered a keynote speech at the Bitcoin MENA event, saying that BTC will become a financial paradigm and predicting that the price of the digital asset will reach $1 million in the future.
He highlighted that Bitcoin is more than an investment tool, it’s a great global asset and a hedge against inflation, political instability, and even natural disasters.
He also said that Bitcoin’s total supply of 21 million is one of its most important features, and said that early adopters will be the ultimate winners.
He also expressed his confidence that Bitcoin has the power to transcend borders and institutions, predicting that banks and governments will have to adapt and embrace this digital revolution.
