Microsoft’s filing with the U.S. Securities and Exchange Commission (SEC) states that the board of directors found the proposal “unnecessary.” The company stated that it has already conducted rigorous assessments in this area and that “Microsoft’s Global Treasury and Investment Services team continuously evaluates investment options that meet criteria such as diversification and inflation protection to fund operations.” It also stated that Bitcoin and other crypto assets were among the previous considerations, but that such investments should be carefully reviewed due to volatility.

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If the proposal is approved, Microsoft would become the largest publicly traded crypto investor, surpassing companies such as MicroStrategy and Tesla.

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