Microsoft, a leading software company with over $3.16 trillion in market capitalization has announced the date of its shareholders meeting and the agenda of the meeting while be Bitcoin.
As per a recent SEC filing by Microsoft notes that the date announced for the meeting of shareholders is December 09, 2024 the meeting will include voting on a number of items.
Including other agendas discussion over investment in Bitcoin will be on focus, with the panel suggesting the shareholders vote against it. The filing also notes that the software giant and its management have already dived deep to consider this topic carefully.
Microsoft is among the few leading firms that accept Bitcoin as a mode of payment for shopping for their products. As per experts, even after payment acceptance, if a company does not invest in BTCs, then it might send shock waves through the market as many other U.S.-based companies hold digital assets and Bitcoin in their investment portfolio.
An Asian media outlet reported that Satya Nadella, the Chief Executive Officer of Microsoft, will get $79.1 million in salary in the fiscal year 2024. This is the highest amount he will be getting since his start with the company in 2014. It is worth noting that the majority of compensation is derived from stock awards.
Microsoft Stock Price Update
When writing, Microsoft Corp(Nasdaq: MSFT) stock was trading at $424.73 after growing 1.77% in the weekly time frame and its average trading volume was 18.25 million.
Source: TradingView
In the 52 weeks time frame, MSFT stock traded between $326.94 – $468.35. The nearest identified resistance is $472.00 followed by $487.00. It is worth noting that its trading price grew 14.25 percent YTD adding $53.86.
The revenue of Microsoft in Q1, 2024 was $61.86 billion with a net income of $21.94 billion and in the second quarter, it reported $64.73 billion in revenue with $22.04 billion in net income.
Data available on TradingView states that 7.32 billion MSFT stocks are free-floating and 109 million are closely held. The majority of its revenue is generated in the United States and also has an appreciated user base in India.
There are broader speculations that the continuous growth of Microsoft and its business and its market capitalization is expected to cross $4 trillion in the coming times. Until writing it was the only company with a massive capitalization making it the most prominent company in the world followed by Apple and others.
The management of Microsoft remains skeptical over Bitcoin and cryptocurrencies and other hand companies such as Tesla, MicroStrategy, and MetaPlanet hold significant numbers of BTCs.
However, there are more than 30 brands around the globe that also accept payments in cryptocurrencies, especially Bitcoin. In its initial BTC was considered worthless but over time it has shown its potential, and following its introduction major updates have been seen in the traditional finance market.
