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Microsoft Rejects Bitcoin | Key Points | Dec. 11, 2024

Photo for the Article - Microsoft Rejects Bitcoin | Key Points | Dec. 11, 2024

GM! Welcome back toย BitPinas Key Points: crypto news in concise formats for easy reading. In today’s daily recap: The shareholders of Microsoft have rejected Bitcoin, more information below.


Market Analysis and Updates ๐Ÿ“ˆ

Here are the crypto highlights of the day:

Crypto Price Update

  • Bitcoin (BTC): $97,794.34, up 0.4% over the last 24 hours.
  • Ethereum (ETH): $3,666.23, down 0.8% over the last 24 hours.
  • Solana (SOL): $2178.95, up 1.1% vs the previous day.

Trending Coins Update

  • Magic Eden: $5.84, down 65.6% vs the previous day.
  • Koma Inu: $0.1596, up 189.9% over the last 24 hours.
  • Alchemist AI: $0.1302, up 17.3% vs the previous day.

For the daily price update, check out our post on Facebook.


Microsoft Shareholders Reject Bitcoin Proposal

Photo for the Article - Microsoft Rejects Bitcoin | Key Points | Dec. 11, 2024
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On December 10, 2024, Microsoft shareholders voted down a proposal urging the company to allocate part of its assets to Bitcoin.

The proposal had faced opposition from the board, which highlighted concerns over Bitcoinโ€™s volatility and its potential impact on financial stability

Key details:

  • The proposal sought to position Microsoft alongside firms like MicroStrategy, which have adopted Bitcoin as part of their treasury strategy.
  • Microsoft CFO Amy Hood reiterated the companyโ€™s cautious stance but emphasized that they continue to monitor trends in cryptocurrencies and blockchain technology for potential opportunities.

What’s the immediate impact: Well, if Microsoft voted yes, it would clearly affect the price of Bitcoin to go up. But it wasn’t the case and instead, we see Bitcoin still finding its way at the $96,000 – $97,000.

Whatโ€™s next: As mentioned, it appears they are not ruling it out completely. A more favorable regulatory clarity, which is expected beginning the next U.S. administration could change the view of the company’s shareholders to the largest digital asset by market capitalization.

More information at DL News.


Philippine Crypto News ๐Ÿ‡ต๐Ÿ‡ญ

  • Coins.ph listed the tokens $FLOW, $G, and $AIXBT.
  • ICP Hub PH shared the success of its iThink Code Camp at La Consolacion University.
  • SparkPointโ€™s support team account Sparky set to become its AI Agent.

Noteworthy ๐ŸŒŸ

Key updates and announcements from around the crypto and blockchain world:

  • Total crypto liquidations surged to $1.5 billion, primarily from $1.38 billion in long positions, as Bitcoin dipped briefly below $95,000.
  • Ethereum researcher Max Resnick, known for advocating base layer scaling over layer-2s, joined Solana core development shop Anza.
  • Economist Mark Zandi predicts a 2025 crash in crypto and stocks due to overvaluation and rising Treasury yields.

Educational Corner ๐ŸŽ“

Photo for the Article - Microsoft Rejects Bitcoin | Key Points | Dec. 11, 2024

Regulation Watch ๐Ÿ“œ

Stay informed about the latest regulatory updates and what they mean for you:

  • El Salvador is nearing a deal with the IMF for $2 billion in loans but must soften its Bitcoin law.
  • The UKโ€™s updated crypto roadmap provides clarity on regulation, deferring payments oversight for stablecoins while introducing new rules.
  • Iran’s Central Bank introduced a regulatory framework to oversee cryptocurrency use.

Community Spotlight ๐Ÿ”ฆ

Photo for the Article - Microsoft Rejects Bitcoin | Key Points | Dec. 11, 2024

Meet Jhobert Baquisal (LinkedIn): He is one of the leaders for web3 gaming in the country side.

  • He is the Bicol Axie Express Guild leader.
  • Baquisal has been a member of the Axie Infinity community since 2019.
  • He is one of the speakers of the Bicol Blockchain Conference 2024.

More Web3 and AI News ๐Ÿ’ก

Discover the latest in web3 and AI innovation.

  • SMARDEX, backed by Swiss Web3 pioneer RA2 TECH, raised $4.5 million in its public seed round for USDN, a decentralized synthetic US dollar powered by Ethereum.
  • DeFi total value locked (TVL) surged nearly 150% this year to $134 billion, driven by liquid restaking tokens (LRTs) and Bitcoin layer-2 networks.
  • The Movement Network Foundation launched its Ethereum Layer-2 network and the MOVE token, distributing $830 million worth of tokens in a “MoveDrop” airdrop.

Web3 Gaming Section ๐ŸŽฎ

The future of web3 is gaming, and here are the latest news.

  • Skale Labs and Sequence partnered to launch a series of Web3 games, starting with the mobile RPG Zoppel.
  • Creo Engine launched the CreoPlay Bot mini-app and CreoPlay ID Wallet to enhance web3 gaming, offering engaging mini-games, rewards, and seamless onboarding.
  • Orochi Network and XProtocol partnered to enhance web3 gaming, combining Orochi’s Zero-Knowledge Data Availability Layer with XProtocol’s Superchain.

Event Announcements ๐Ÿ“…

Donโ€™t Miss Out: Upcoming events, webinars, and meetups in the crypto space in the Philippines!


Stay Connected:

Weโ€™d love to hear from you! Reply with your thoughts or questions.

This article is published on BitPinas: Microsoft Rejects Bitcoin | Key Points | Dec. 11, 2024

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