Perhaps the most important vote of the year is happening tomorrow.
Our urgent zoom is coming offline tomorrow morning at 11:30am ET that explains the four moves I recommend taking ahead of it and why👇.
To understand what’s happening, let’s travel back to 2017, the year bitcoin became a household name.
Back then, bitcoin had a massive hill to climb because regulators viewed it as a way for criminals and cyber thieves to launder money.
Bitcoin was by no means a legitimate asset class in those days. In fact, some called it “magic internet money.”
But in March of 2017, the Winklevoss twins put forward an application to start a bitcoin-tied exchange-traded fund (ETF.)
And I was convinced that if the US Securities and Exchange Commission (SEC) voted to approve this ETF, it would help legitimize bitcoin as an asset.
However, the SEC rejected the application citing the risk of fraud and a lack of regulation among the world’s bitcoin markets.
Here’s what the SEC wrote at the time:
The Commission notes that bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop. Should such markets develop, the Commission could consider whether a bitcoin ETP would, based on the facts and circumstances then presented, be consistent with the requirements of the Exchange Act.
After the SEC rejection, bitcoin tanked over the next couple of days. It was a huge — but not unexpected — blow for bitcoin enthusiasts like me.
But then something funny happened. It stopped going lower and started going higher.
And it turns out this was the last opportunity you ever had to buy bitcoin under $1,000 again.
That brings us to tomorrow’s big vote…
Here’s What’s Happening Tomorrow
In an interesting parallel with that 2017 SEC vote, Microsoft shareholders are about to decide whether the company should consider adding bitcoin to its financial holdings.
The proposal stems from a conservative think tank called the National Center for Public Policy Research (NCPPR.)
Right now, Microsoft keeps most of its money in government securities and corporate bonds.
And the numbers involved are significant. Microsoft is currently the world’s third-largest company with $523 billion in assets.
The NCPPR proposal calls for the company to consider putting some of its money into bitcoin to protect its assets against inflation.
It suggests that even investing just 1% of that money in bitcoin could have a huge impact on its value.
But Microsoft’s board isn’t convinced. They say they already evaluate a “wide range of investable assets,” including bitcoin.
Now, I find it ironic that the board has had the chance to evaluate bitcoin at much lower prices than today.
They could have invested at $10,000, $15,000 or $20,000, etc.
Which means they already missed out on multiple chances to significantly grow their asset holdings.
But tomorrow’s vote could lead to a very different outcome.
Because if Microsoft misses out again on bitcoin again, they might face shareholder litigation.
The NCPPR claims that shareholders may have grounds to sue: “If Microsoft publicly decides it’s not in shareholders’ best interest to buy bitcoin, and then Bitcoin’s value rises.”
Here’s What That Means for You
This proposal shows how far cryptocurrency has come.
What was once dismissed as “magic internet money” is now being seriously discussed in the boardrooms of the world’s largest companies.
But just like back in 2017 when the SEC voted against approving a bitcoin ETF, the main takeaway is not whether Microsoft decides to add bitcoin to its balance sheet right now.
It’s the idea that at some point it is going to happen.
It could happen as soon as tomorrow with Microsoft.
But if not tomorrow, you should still act. Because even if it’s not tomorrow and not Microsoft…
I firmly believe this will happen… and with another company. And I’ll show you a few other likely candidates in Wednesday’s issue of Daily Disruptor, so please be on the lookout for that.
In the meantime, this vote is going to have an immediate ripple effect on the crypto space…
No matter the outcome.
I’ve just released an emergency update with all the details, including four smaller altcoins that I believe are poised to skyrocket in the weeks ahead.
But hurry, because I’m pulling the video offline tomorrow morning as soon as Microsoft shareholders vote.
And I’ll be back with more insight following Microsoft’s vote.
Regards,
Ian King
Chief Strategist, Banyan Hill Publishing