Microsoft rejects Bitcoin investment proposal but Nasdaq 100 Index will add Bitcoin

Because of shareholders’ heavy vote against the Bitcoin investment proposal, Microsoft rejected the proposal.

Microsoft is a popular global technology company founded in 1975. This company is mainly known for its computer & laptop-focused software products like Windows, Office, and cloud services. The company also develops innovative tech gadgets, including Xbox and Surface devices. Over the last couple of years, Microsoft achieved a very big level of achievement in the area of Artificial Intelligence (AI) and cloud computing.

As we previously reported, the National Center for Public Policy Research proposed “Assessment of Investing in Bitcoin,” a proposal that Microsoft should consider allocating 1% of its total assets into Bitcoin, to diversify the company’s portfolio & fight against inflation.

As per the latest reports, Microsoft leadership decided to reject the Bitcoin investment proposal on behalf of the shareholders who voted against the proposal.

Despite the fact that Microstrategy’s former CEO, Michael Saylor, was involved in supporting this proposal, the decision to reject this proposal was almost confirmed because the company’s leadership had already urged the shareholders to vote against the proposal.

Two new hope for Bitcoin market

However, this news is very bad for the Bitcoin sector, but the other side of the Bitcoin sector is ready to see new developments around Bitcoin.
As per the latest reports, the Nasdaq 100 Index and S&P 500 may add Bitcoin, but the final decision will depend upon the new accounting rule, which is expected to be changed in 2025.

Bitcoin price action

The current trade price of Bitcoin ($BTC) is $96,897. This price level is 0.19% down over the last 24-hour period.

The price graph of Bitcoin is clearly showing that the market faced a significant correction in the price level but suddenly recovered.

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