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Bitcoin Maxi Michael Saylor Proposes “Next Trillion Dollars” Deal To Microsoft CEO
Bitcoin Maxi Michael Saylor has called on Microsoft CEO Satya Nadella to consider adopting Bitcoin as one of the company’s investments. This push comes at the same time as a shareholder proposal has been submitted with the U.S. Securities and Exchange Commission (SEC) for Microsoft to consider Bitcoin as a treasury asset.
Saylor, an advocate for Bitcoin, stated that if Microsoft were to adopt Bitcoin, it could generate significant returns due to inflation that affects other assets.
Bitcoin Maxi Michael Saylor Points to MicroStrategy’s BTC Success
Michael Saylor, CEO of MicroStrategy, recently took to X (formerly Twitter) to propose a “next trillion-dollar” opportunity for Microsoft. He encouraged Microsoft CEO Satya Nadella to incorporate Bitcoin into the company’s balance sheet. MicroStrategy, unlike most major tech firms, holds a significant amount of Bitcoin. As of now, the company holds 252,220 BTC, currently valued at over $17 billion, with a total acquisition cost of around $9.9 billion.
This strategy has reaped benefits as MicroStrategy’s stock soared to $235.89, a 25-year high this week, and closed with more than 10% gains. MicroStrategy’s market capitalization, in addition, is currently $43.6 billion, which is rather high in comparison to the company’s net asset value of its BTC holdings.
This pattern is similar to Grayscale Bitcoin Trust before its conversion to the spot Bitcoin ETF recently. Bitcoin Maxi Saylor has suggested that due to Microsoft’s size and clout, integrating with Bitcoin could be very profitable for the company. In the last three years, the price of Bitcoin has rose by over 971% which is much better than corporate bond and short term treasury bills.
However, despite his calls for Microsoft to consider BTC, Saylor has faced some backlash for suggesting that big banks offering Bitcoin custody might be beneficial.
Potential of Bitcoin for Microsoft’s Treasury
A shareholder proposal, submitted by the National Center for Public Policy Research, calls on Microsoft’s board to assess Bitcoin as a potential asset for its treasury management. The proposal underscores that Microsoft’s existing investments, primarily in U.S. government securities and corporate bonds, may not be sufficient to protect against inflation.
It suggests that a small allocation to Bitcoin, even as low as 1% of Microsoft’s total assets, could act as a hedge against currency devaluation. Moreover, Microsoft’s second-largest shareholder, BlackRock, has been a significant player in Bitcoin’s institutional adoption. Its Bitcoin ETF, known as IBIT, has been driving substantial inflows in the U.S. Bitcoin ETF market.
This week, IBIT recorded another $300 million in inflows, bringing total inflows since inception to more than $23.5 billion. This shows growing demand among institutional investors for Bitcoin exposure, which could support Bitcoin Maxi Michael Saylor’s argument for Microsoft to explore similar opportunities.
The vote on this proposal is scheduled for December 10 at Microsoft’s annual shareholder meeting. However, Microsoft’s board has recommended a vote against it, citing Bitcoin’s high volatility as a key risk factor.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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24/7 Cryptocurrency News
Donald Trump Proposed Crypto Advisory Council To Set Up Strategic Bitcoin Reserve
Donald Trump plans to establish an advisory council to position the U.S. as a leader in the cryptocurrency space. The council will spearhead policy changes, coordinate with Congress on crypto legislation, and oversee the creation of a strategic Bitcoin reserve.
The advisory council will also operate under the White House’s National Economic Council or a similar executive body. Industry executives have revealed that the council will collaborate with federal agencies like the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and the Treasury to streamline regulatory frameworks for the crypto industry.
Donald Trump To Establish Bitcoin Reserve Amid Crypto Council Formation
According to a recent report, Donald Trump’s crypto advisory council will advise on digital asset policies and oversee the creation of a strategic Bitcoin reserve. The reserve aims to position Bitcoin as a core element of the United States’ economic strategy. This will enhance the nation’s leadership in the global crypto space.
The council will work with Congress to draft legislation and coordinate between agencies such as the SEC, CFTC, and Treasury. The initiative seeks to establish clear regulatory guidelines within the crypto sector. More so, the idea of a Bitcoin reserve reflects a commitment to integrating blockchain technology into national economic frameworks.
Additionally, the move comes amid rising discussions on why the United States should consider Bitcoin as part of its national reserves, particularly in light of countries like El Salvador and Bhutan already adopting it. Advocates like Anthony Pompliano stress the urgency for the U.S. to act to maintain its leadership in the evolving digital economy.
Industry Leaders Compete for Seats on Trump’s Crypto Council
Several players in the industry, including Ripple, Kraken, Coinbase, and Circle, are vying for a position on Donald Trump’s council. These companies aim to influence the administration’s approach to crypto regulation and advocate for pro-industry policies. Executives from Paradigm and Andreessen Horowitz’s crypto arm, a16z, are also expected to play key roles in shaping the council.
Ripple and Circle, represented by their executives, have already expressed interest in contributing to the council. Circle CEO Jeremy Allaire recently emphasized the importance of building a robust, crypto-friendly infrastructure under Trump’s administration. Industry leaders hope this council will bring an end to enforcement actions seen under the previous administration.
Most recently, Cardano founder Charles Hoskinson endorsed Coinbase CEO Brian Armstrong for the potential White House crypto role under Donald Trump’s administration. Hoskinson praised Armstrong’s neutrality and deep understanding of the crypto industry, emphasizing his ability to guide regulatory progress.
Meanwhile, this major push comes as the current SEC Chair, Gary Gensler, announced he is set to resign on January 20, 2025, coinciding with Donald Trump’s inauguration as U.S. President. Ripple’s CLO, Stuart Alderoty, emphasized the need for a new Chair who will establish clear rules for crypto.
Notably, former regulators, including Heath Tarbert, former CFTC Chair and now Circle’s chief legal officer, and Brian Quintenz, a16z’s head of policy, are reportedly advising Donald Trump’s transition team. These individuals bring extensive regulatory experience to the development of the Crypto Council and its proposed Bitcoin reserve.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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In a recent development, the US Securities and Exchange Commission (SEC) announced that Gary Gensler will step down from his position next year. This follows calls for Gensler to resign since Donald Trump won the US presidential elections.
Gary Gensler To Step Down As US SEC Chair
The US SEC announced in a press release that Gary Gensler will depart the Agency on January 20, 2025. The US SEC Chair also confirmed this development in an X post. Interestingly, this comes on the same day that Donald Trump will be inaugurated as the 47th president of the United States.
Following the announcement, Gensler also used the opportunity to reflect on his time at the Commission. He remarked that it has been an “honor of a lifetime” to serve alongside those at the SEC. He also thanked President Biden for the opportunity to serve in the position. Gensler has been the US SEC Chair since April 2021. During his time, he has spearheaded several litigations against the crypto industry.
This includes the long-running legal battle with Ripple, which Gensler took over from his predecessor Jay Clayton, which bordered on whether XRP was a security. Up till now, the Agency continues to reiterate this ‘digital asset securities’ claim.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Bitcoin Miner MARA Holdings has raised approximately $1 billion through the sale of its convertible notes. The Bitcoin miner revealed that some of the proceeds from this sale would be used to buy more BTC, although they didn’t mention the exact amount.
Marathon Digital Raises $1B To Buy More Bitcoin
In a press release, the Bitcoin miner revealed that it had raised net proceeds of $980 million from its convertible notes sale after deducting the initial purchaser’s discounts and commissions but before the estimated offering expenses payable by the company.
This development is significant as MARA Holdings revealed that it will use some of the net proceeds to acquire additional BTC. It is worth mentioning that the Bitcoin miner already holds around 27,000 BTC and is the public company with the second-largest Bitcoin holdings.
This development comes as MARA also recently unveiled plans to raise $700m through convertible notes, which will mature in 2030. Meanwhile, the Bitcoin miner looks to be going head-to-head with MicroStrategy, which also recently upsized its private offering to $2.6 billion. The software company will use some of the proceeds to buy more BTC.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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