Microsoft’s Bitcoin rejection has drawn criticism from the digital asset community after shareholders voted against a proposal to invest in Bitcoin. Titled “Assessment of Investing in Bitcoin,” the proposal was to allocate 1% of Microsoft’s total assets into Bitcoin as a hedge against inflation.
Despite the rising interest in corporate cryptocurrency adoption, Microsoft’s board opposed the proposal, citing Bitcoin’s volatility and the need to prioritize stable investments for liquidity and operational funding. Critics argue that this conservative stance may result in missed opportunities, especially as companies like MicroStrategy continue to embrace Bitcoin.
Crypto Backlash to Microsoft’s Rejection
Tron (TRX) founder Justin Sun ridiculed Microsoft’s Bitcoin rejection on X (formerly Twitter), recommending “buying Bitcoin when it hits $1 million.” His comment came during Bitcoin’s recent rally from $85,155.11 to $103,900 over the past 30 days.
The Bitcoin price is just not high enough for Microsoft to consider it as a reserve. I highly recommend buying it when Bitcoin reaches 1 million USD. https://t.co/mtJKtLl97C
— H.E. Justin Sun 🍌 (@justinsuntron) December 10, 2024
The crypto community also highlighted that Microsoft’s decision to stay on the sidelines could be a mistake, especially as Bitcoin recently reached a valuation of $2 trillion before dropping to $1.9 trillion following market corrections.
Pro-Crypto Policies Under Trump Administration
Eric Trump, son of President-elect Donald Trump, predicted that a $1 million Bitcoin price is achievable under his father’s pro-crypto administration. Trump has taken steps to promote cryptocurrency adoption, appointing former PayPal COO, David Sacks as the White House AI and crypto czar.
Bitcoin Price Outlook: Trump’s Ambitious Goals
According to Axios, Trump aims to see Bitcoin reach $150,000 during his presidency. An anonymous source revealed that Trump views the cryptocurrency market as a “second stock market” and plans to focus on Bitcoin’s price growth.
Read also: Early Bitcoin Addresses Move $6M as BTC Hits $100K Milestone
Bitcoin and other cryptocurrencies have surged since Trump’s re-election. After crossing the $100,000 milestone, Bitcoin struggled to hold support levels, briefly dropping to $94,000 before rebounding to $97,000 in the past 24 hours.
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