Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.
Microsoft Shareholders Vote Down Bitcoin Treasury Proposal
Microsoft (MSFT) doesn't appear to be adding its name anytime soon to the list of corporate entities holding bitcoin (BTC) after its shareholders voted against a proposal that would have directed the board of directors to study such a move.
Titled "Assessment of Investing in Bitcoin," the proposal was put forward by the National Center for Public Policy Research. The think tank group suggested that Microsoft should consider diversifying 1% of its total assets into bitcoin as a potential hedge against inflation. According to the latest data by Bloomberg, Microsoft holds $78.4 billion of cash and marketable securities on its balance sheet.
Google’s Willow Raises Bitcoin Security Concerns as Price Struggles to Break $100K
Bitcoin recently retraced to $94,220, raising concerns in the market. Profit-taking and potential effects from quantum computing have been cited as key factors. As Bitcoin settles at around $97K, discussions increase about whether it will surpass $100,000 by year-end or face further barriers this December.
Google has introduced a new chip, "Willow," claiming it can solve a problem in five minutes that would take the world's fastest supercomputers 10 septillion years. This chip represents progress in quantum computing, which aims to create highly powerful computers based on particle physics.
MARA holdings purchases 11,774 Bitcoin for $1.1 billion
MARA Holdings Inc. has acquired an additional 11,774 Bitcoin (CRYPTO:BTC) for $1.1 billion, pushing its hashrate to an industry-leading 50 exahashes per second (EH/s).
The purchase was announced on December 10 and was funded through a zero-coupon convertible note offering from late last month.
Hedge Fund Titan Ray Dalio Favors Gold, Bitcoin Over Debt Investments
Prominent American investor and hedge fund manager Ray Dalio is once more promoting investment in gold and Bitcoin, deliberately avoiding debt assets since major economies are dealing with rapidly increasing indebtedness.
The South China Morning Post reported Dalio’s remarks from a financial conference in Abu Dhabi on Tuesday. There, he said he believes there will likely be a “pending debt money problem,” and that he wants to “steer away from debt assets like bonds and debt, and have some hard money like gold and Bitcoin.”
Bitcoin Spot ETF Flow
The Bitcoin spot ETF with the highest net inflow on Dec 10 was iShares Bitcoin Trust , with a net inflow of $295.63 million. Following that was Fidelity Wise Origin Bitcoin Fund , with a net inflow of 210.48 million, according to SoSoValue.
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