bullish

Bitcoin

Apple

Notable

<ul> 
 <li aria-level="1">Shareholders to decide on Bitcoin investment; board recommends against it despite Bitcoin’s price surge following announcement.</li> 
 <li aria-level="1">Significant corporate move could influence broader market, with Bitcoin trading at $68,500 after 2.65% increase in 24 hours.</li> 
</ul> 
On December 10th, Microsoft, the American software giant, is set to vote on a significant corporate strategy shift—investing in Bitcoin. This development was disclosed in a recent Securities and Exchange Commission (SEC) filing, which highlighted the agenda for its forthcoming shareholder meeting. 
 At this assembly, shareholders will weigh in on the proposed pivot towards Bitcoin investment, a decision not without its detractors as the board has recommended a vote against this move. 
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 Source: SEC
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Despite this recommendation, the market response has been notably bullish. Following the announcement, Bitcoin’s price surged, reflecting investor optimism about potential new institutional involvement. 
As of the latest figures, Bitcoin is trading at $68,500 per unit, marking a 2.65% increase over the past 24 hours. This price movement underscores the cryptocurrency’s sensitivity to market perceptions of institutional endorsement. 
Microsoft’s exploration into Bitcoin could place it alongside other publicly traded companies that have integrated Bitcoin into their treasury strategies as a store of value. Notable firms with significant Bitcoin holdings include <a href="https://www.ethnews.com/michael-saylors-bold-vision-microstrategys-bitcoin-strategy-and-the-path-to-a-trillion-dollar-company/">MicroStrategy</a>, which holds 252,220 BTC, <a href="https://www.ethnews.com/why-marathon-digital-betting-250m-on-bitcoin-matters-more-than-you-think/">Marathon with 26,842 BTC</a>, and Tesla, which owns 9,720 BTC, among others. 
The potential impact of Microsoft’s foray into Bitcoin could be profound, given its status as the world’s third most valuable company, trailing only behind Apple and Nvidia. The endorsement from such a tech behemoth could catalyze further institutional adoption, potentially driving Bitcoin’s price significantly higher.&nbsp; 
Investment research firm Bernstein suggests that institutional buy-in could be a major bullish driver for Bitcoin, projecting its price could reach $200,000 next year and soar to a million dollars by 2033. 
The upcoming shareholder vote represents a pivotal moment not only for Microsoft but for the broader <a href="https://www.ethnews.com/whale-accumulation-patterns-predict-major-bitcoin-price-shift-details-inside/">financial crypto market</a>, as it reflects the growing intersection of traditional corporate finance and the nascent world of cryptocurrencies.&nbsp; 
As the date approaches, the industry watches closely, anticipating the possible ripple effects of this decision on global financial strategies and cryptocurrency adoption. 
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</div> 
Bitcoin (BTC) is currently trading at around $68,470, reflecting a 2.81% increase. It has strong support at $64,000 and faces resistance near $68,500, with potential targets at $70,000 and the all-time high of $73,794. 
Moving averages indicate a bullish trend, with the MACD above the signal line suggesting upward momentum. 
<figure id="attachment_101684" aria-describedby="caption-attachment-101684" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-101684" src="https://www.ethnews.com/wp-content/uploads/2024/10/BTCUSDT_2024-10-24_23-16-37.png" alt="BTCUSDT_2024-10-24_23-16-37" width="1737" height="744">
 <figcaption id="caption-attachment-101684" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
The RSI, around 65-70, indicates room for more gains before reaching overbought levels. Volume has been rising, supporting the bullish trend, though any volume divergence could signal weakening momentum. 
If BTC breaks above $68,500, it could move toward $70,000, while a failure to sustain this level may lead to corrections toward $66,000 or $64,000. The overall outlook remains bullish, provided support levels hold. 
The post <a href="https://www.ethnews.com/microsofts-shareholder-vote-on-bitcoin-a-defining-moment-for-crypto-investments/">Microsoft’s Shareholder Vote on Bitcoin: A Defining Moment for Crypto Investments</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Microsoft’s Shareholder Vote on Bitcoin: A Defining Moment for Crypto Investments

ETHNews

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