Microsoft Corp. (NASDAQ:MSFT) might have rejected the proposal to assess Bitcoin (CRYPTO: BTC) investment, but its second-largest shareholder, BlackRock, is second to none in terms of optimism for the apex cryptocurrency.
What happened: Microsoft, worth more than $3 trillion, voted down a proposal to consider adding Bitcoin to its balance sheet after the board expressed worries about the asset’s volatility.
The rejection came despite a case by MicroStrategy Executive Chairman Michael Saylor for how the plan could increase Microsoft’s market capitalization in the near term.
Interestingly, Microsoft’s decision to give Bitcoin a miss contrasted sharply with how one of its biggest institutional investors viewed the cryptocurrency.
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