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Microsoft’s decision to reject a proposal to invest in Bitcoin has drawn criticism from the crypto community. The proposal, titled “Evaluating Bitcoin Investment,” suggested allocating 1% of the company’s total assets to Bitcoin as a hedge against inflation. Despite Bitcoin’s growing popularity among institutional investors, Microsoft’s board cited concerns over volatility and prioritized liquidity and operational funding needs.
Justin Sun Criticizes Microsoft’s Move
Tron (TRX) founder Justin Sun openly criticized Microsoft’s decision, sarcastically suggesting on X (formerly Twitter) that the company consider investing when Bitcoin reaches $1 million. Sun’s comment came during a period when Bitcoin’s price surged from $85,155 to $103,900 within 30 days.
Critics argue that Microsoft’s stance might result in missed opportunities, especially as companies like MicroStrategy continue to embrace Bitcoin. The crypto community highlighted the potential for strategic missteps, given Bitcoin’s current market fluctuations, with a peak valuation of $2 trillion before settling at $1.9 trillion.
Eric Trump and Crypto-Friendly Policies
The debate over Bitcoin’s adoption gained further traction with Eric Trump’s remarks on the potential of Bitcoin under a crypto-friendly administration. As the son of President-elect Donald Trump, Eric predicted Bitcoin could reach $1 million, supported by a pro-crypto government.
The administration’s plans include appointing former PayPal COO David Sacks to oversee AI and crypto policies in the White House. According to Axios, the administration’s vision involves promoting cryptocurrencies and positioning Bitcoin as an “alternative stock market,” with a near-term target of $150,000 for Bitcoin.
The Larger Implications
Microsoft’s conservative approach contrasts with the increasing institutional acceptance of Bitcoin. Critics argue that the tech giant’s decision could signal a reluctance to engage with the evolving financial landscape. However, proponents of Microsoft’s position highlight the importance of financial stability and risk management.
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