COINDESK DAILY: Microsoft Urges Shareholders to Vote Against Bitcoin Proposal
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 25 October 2024
⏱️ 3 minutes
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Summary
Host Christine Lee breaks down the news in the crypto industry including Microsoft urging shareholders to vote against a bitcoin proposal and Balance becoming a qualified crypto custodian in Canada.
Bitcoin is trading flat around the $68,000 threshold while options traders weigh a price increase to $100,000 by the end of 2024. Plus, Microsoft urges shareholders to vote against a proposal that assesses bitcoin as a diversification investment and crypto custodian Balance wants to bring Canada’s crypto ETF assets back to the country. "CoinDesk Daily" host Christine Lee breaks down the biggest headlines in the crypto industry today.
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This episode was hosted by Christine Lee. “CoinDesk Daily” is produced by Christine Lee, Jennifer Sanasie, Melissa Montañez and edited by Victor Chen.
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Transcript
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| 0:00.0 | Options traders weigh the odds of $100,000 Bitcoin by year end, and Microsoft considers a proposal to own BTC. |
| 0:08.4 | This is CoinDest Daily. I'm your host Christine Lane. |
| 0:15.9 | Bitcoin seesawing around the $68,000 threshold Thursday, BTC gaining about two-tenths of a percent |
| 0:23.1 | over the past 24 hours in the U.S. morning. Bitcoin looks on course to close the week over 1% lower, |
| 0:30.6 | according to CoinDusk indices data, having failed to sustain any of its ascents north of 68,000. |
| 0:37.4 | Though traders are somewhat optimistic, |
| 0:39.8 | BTC options trading on Deribate suggests a roughly 10% chance that BTC price will rise |
| 0:45.1 | above $100,000 by December 27th. The possibility of prices rising to $82,000 is higher, |
| 0:52.1 | though options market probabilities can change quickly with market |
| 0:55.8 | conditions. The board of Microsoft has recommended shareholders vote against a proposal for the |
| 1:01.8 | company to assess Bitcoin as an inflationary hedge. In a filing with the SEC on Thursday, Microsoft |
| 1:08.2 | laid out issues to discuss at the company's next shareholder meeting. |
| 1:12.2 | One of the proposals from the National Center of Public Policy Research, a conservative think tank, |
| 1:17.8 | argues that Bitcoin is an excellent, if not, quote, the best hedge against inflation. |
| 1:23.2 | The board is recommending shareholders vote against this proposal, the filing reveals, arguing that Microsoft already, quote, carefully considers this topic, |
| 1:31.8 | and the requested public assessment is unwarranted. |
| 1:35.4 | Balance, Canada's long-standing crypto-custodian finally attained qualified custodian status this week, |
| 1:41.4 | prompting the firm CEO, George Borthianu, to say it's time to start |
| 1:46.2 | bringing the country's ETF digital assets back home. Bordianu is alluding to the fact that the |
| 1:52.6 | safekeeping of crypto assets underlying funds issued by Canadian ETF providers, 3 IQ, purpose |
| 1:58.6 | investments and evolve, end up in sub-custody arrangements and |
| 2:02.2 | held by blue-chip U.S. exchanges like Coinbase and Gemini rather than remaining on Canadian soil. |
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