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Microsoft shareholders voted against a proposal to allocate 1% of the company's treasury to Bitcoin, despite the board's ongoing monitoring of cryptocurrency trends. The proposal, introduced by the National Center for Public Policy Research, aimed to hedge against inflation and enhance shareholder value. Meanwhile, MicroStrategy's Michael Saylor emphasized the potential benefits of Bitcoin integration for Microsoft’s future growth.
Bitcoin (BTC) reached an all-time high of $103,679 on December 4, sparking speculation about its ability to maintain a position above $100K. Currently trading at $96,699, BTC's future depends on market reactions to political developments and bullish sentiment. Meanwhile, JetBolt (JBOLT) is gaining traction with its innovative zero-gas technology, selling over 150 million tokens in presale, attracting interest from crypto whales and buyers.
Microsoft shareholders are set to vote on a Bitcoin investment proposal, with prediction markets indicating only an 11% chance of approval. The board recommends against the proposal, citing concerns over Bitcoin's volatility, despite some institutional investors supporting it. If approved, a 1% allocation would position Microsoft as the 10th largest public company holding Bitcoin.
MicroStrategy's aggressive Bitcoin strategy has led to significant gains, with its stock surging 2,500% since 2020. However, as the company faces potential cash crunches from its $3 billion in convertible notes, its stock could plummet if Bitcoin prices falter, prompting investors to consider direct BTC exposure instead. With plans to raise $42 billion for further BTC purchases, the sustainability of MicroStrategy's approach remains in question.
Eric Trump predicts Bitcoin will reach $1 million, calling it a transformative global asset and a hedge against inflation and political instability. Speaking at the Bitcoin MENA event, he emphasized Bitcoin's scarcity and decentralized nature, comparing its adoption to that of email. Trump expressed confidence that early adopters will benefit as governments and banks adapt to this digital revolution.
Jetking Infotrain has become the first publicly listed company in India to hold Bitcoin, acquiring 12 BTC valued at approximately $1.2 million, which constitutes over 26% of its market capitalization of $4.5 million. CEO Avinash Bharwani emphasized the company's strategy to integrate Bitcoin into its treasury for long-term growth while engaging with regulators for compliance. This move reflects a broader trend of increasing institutional interest in cryptocurrency, as companies globally diversify their treasury assets amid changing economic conditions.
Russian lawmaker Anton Tkachev has proposed creating a national Bitcoin reserve to bolster financial stability against sanctions and inflation. He argues that Bitcoin's decentralized nature makes it a reliable asset, comparable to traditional reserves, and highlights its potential for international trade amid limited access to global payment systems. This initiative aligns with a broader trend of countries exploring cryptocurrencies as alternative financial instruments.
Russian lawmaker Anton Tkachev has proposed creating a national Bitcoin reserve to protect the country’s financial stability from sanctions and inflation. He argues that Bitcoin's decentralized nature makes it a viable alternative to traditional foreign currency reserves, highlighting its recent $100,000 milestone and the significant holdings of companies like MicroStrategy. This initiative aligns with Russia's broader strategy to diversify its financial systems and adapt to global economic pressures.
Riot Platforms plans to issue $500 million in convertible notes to enhance its Bitcoin reserves, which grew to 11,425 BTC by November 30. Despite a 5% increase in holdings and mining 495 BTC in November, the announcement led to a drop in shares, reflecting investor concerns about the new debt's impact on the company's finances.
Bitcoin's market cap has dropped to $1.930 trillion after a significant decline, falling to around $94,000 before recovering slightly to over $97,000. The total crypto market cap plummeted by $300 billion, with many altcoins suffering even greater losses, including BRETT and WIF, which fell by 14% and 13%, respectively. Over-leveraged traders faced severe repercussions, with liquidated positions reaching $1.6 billion.
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