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 (NYSE:BLK) — a big Microsoft shareholder with about 7.45% of the company — intends to take part in the vote.
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.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
