BlackRock to Vote in Microsoft's Bitcoin Decision, Reveals Fred Krueger
10/28/2024 20:13Microsoft's Bitcoin drama sees BlackRock vote, reveals top investor Fred Krueger
Microsoft's Bitcoin drama sees BlackRock vote, reveals top investor Fred Krueger
Microsoft shareholders are going to make a big decision in December about a proposal to diversify the company's balance sheet by adding Bitcoin (BTC). Even though more and more people in the crypto community are interested in this, Microsoft's board initially doubted the idea, which makes you wonder if the company is really ready to get into cryptocurrency.
The proposal has gotten a lot of attention from industry experts, as it challenges Microsoft's stance on integrating Bitcoin into its financial strategy. Fred Krueger, an investor and mathematician, says that BlackRock — a big Microsoft shareholder with about 7.45% of the company — intends to take part in the vote.
BlackRock, as a significant shareholder owning approximately 7% of Microsoft (MSFT), typically votes on its shares at shareholder meetings. As one of the largest asset management firms, BlackRock actively participates in the corporate governance of the companies in which it…
— Fred Krueger (@dotkrueger) October 27, 2024
BlackRock, which manages over $10 trillion in assets, is no stranger to the cryptocurrency space. The company has already bought over 400,000 BTC for its Bitcoin ETF. The fund's role in Microsoft's upcoming vote will show what it believes is important when it comes to investing, which is putting shareholders first and making sure companies are run properly.
While BlackRock has a lot of influence, it is not the only player in town. Vanguard, another big shareholder, also has a big 9.09% stake in Microsoft, which helps keep things fair in decision-making. Interestingly, Vanguard rejected the idea of a Bitcoin ETF at the beginning of the year, arguing that there is no appropriate role for them to play in long-term portfolios.
Plus, Microsoft's own management and board have a lot of say as to the direction the company goes in. So, it will be interesting to see what happens in the December vote, given all these different interests.
About the author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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