Wednesday, November 13, 2024
windows news

Microsoft will give shareholders a vote on investing in bitcoin, with its board recommending “no”



What you need to know

  • Bitcoin has enjoyed something of a rally over the past year, reaching a new all-time high of $73,000 back in the spring, making it the best-performing asset of its type for 2024.
  • Improved guidelines at a state level has driven increased confidence in the cryptocurrency, which has even Microsoft seemingly interested in jumping on the crypto train.
  • On December 10, 2024, Microsoft plans to let shareholders vote on whether or not to invest in the currency.

Bitcoin has had a pretty good year so far, so good in fact that Microsoft itself is now considering investing in the cryptocurrency.

For those who don’t know, bitcoin is an industry-leading cryptocurrency whose “scarcity” is artificially perpetuated by processing-heavy math calculations. Dubbed crypto “mining,” the practice uses GPUs like those supplied by NVIDIA to perform increasingly complex calculations, in exchange for fragments of a bitcoin token. Those bitcoins are then exchanged and traded as you might otherwise trade gold or other investable commodities, verified by a blockchain. A notable difference is that the market for bitcoin trading is always online, 24/7, and has been the subject of various controversies.





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