Polymarket predicts 11% chance for Microsoft Bitcoin purchase approval

Polymarket bettors are expressing scepticism regarding the likelihood of Microsoft shareholders approving a proposal to purchase Bitcoin (CRYPTO:BTC). 

Currently, they assign only an 11% chance of approval following a pitch by Michael Saylor, executive chairman of Microstrategy, who suggested that the software giant consider adding Bitcoin to its balance sheet.

Saylor's argument centers on the notion that Microsoft's current treasury strategy is "surrendering" cash and that investing in Bitcoin could serve as a hedge against inflation and economic uncertainty.

He claims that this move could potentially increase Microsoft's market capitalization from $3.2 trillion to over $8 trillion.

In October, the National Center for Public Policy Research proposed that Microsoft diversify its investments by adding Bitcoin, but the board recommended shareholders vote against this idea, citing concerns about the volatility of cryptocurrency.

Each bet on Polymarket consists of a "Yes" and a "No" option, with shares paying out $1 in USDC if the prediction is correct.

One bettor on the "No" side expressed doubt about the necessity for Microsoft to invest in Bitcoin, arguing that institutional investors already have numerous options for gaining exposure to the cryptocurrency market.

"They're just making their value assessment more difficult by muddying up safe investments (MSFT) with volatile ones (BTC)," said trader Oxymirin, who has a $2,000 position against the proposal.

Conversely, another bettor believes that given Microsoft's strong cash position, the company may allocate a small amount of funds to test Bitcoin investment.

"I think a small amount of funds will be allocated for testing," noted trader titanlin, emphasizing that shareholder rights must be considered.

Microsoft's next shareholder meeting is scheduled for December 10, where this motion will be voted on.

At the time of reporting, the Bitcoin (BTC) price was $95,591.10.