Bitcoin To Hit $150,000 Next If Microsoft Votes to Buy BTC

Bitcoin (BTC) looks poised for a technical breakout toward $150,000 as speculation mounts over Microsoft’s (MSFT) potential foray into the crypto sector.

Microsoft Board is Against Bitcoin Investment

According to a filing with the United States Securities and Exchange Commission, Microsoft shareholders will decide on Dec. 10, 1130 EST, whether the tech giant should publicly explore adding Bitcoin to its balance sheet.

The board has advised against the proposal, asserting that Microsoft already reviews a diverse portfolio of investment options, including Bitcoin, as an integral part of its overall financial strategy. Their position echoes the sentiments of co-founder Bill Gates, who has been a prominent critic of cryptocurrencies, frequently raising concerns about their speculative nature.

The National Center for Public Policy Research, a think tank that filed the proposal, disagrees, arguing that Bitcoin is an excellent, if not the best, hedge against inflation.

Microsoft is voting to hold $BTC on its balance sheet and for some reason, no one talks about it.

Here are some insights:

Microsoft execs are advising to vote against it, at least that’s what they’re telling the public.

But what is quite bullish is who the biggest Microsoft… pic.twitter.com/MuD7JaagHM

— Crypto Stream (@CryptoStreamHub) December 6, 2024

Microsoft’s September filings show that its treasury holds $78.42 billion in cash or cash equivalents. Allocating even 1% of those holdings to Bitcoin could result in a $784 million investment, making Microsoft the 10th largest public company holding BTC.

Michael Saylor’s MicroStrategy (MSTR) and Elon Musk’s Tesla (TSLA) hold $41.31 billion and $947.87 worth of Bitcoin, respectively. Last week, Saylor suggested that Microsoft could boost its valuation by up to $4 trillion and increase its share price by $600 by integrating Bitcoin into strategic areas such as cash reserves, dividends, and share buybacks.

The statement followed Amazon’s 2025 shareholders meeting on Dec. 6, in which they petitioned the board to consider adding Bitcoin to the company’s treasury.

“Since cash is consistently being debased and bond yields are lower than the true inflation rate, Amazon isn’t adequately protecting billions of dollars of shareholder value simply by holding these assets,” the shareholders argued, adding:

“Amazon should – and perhaps has a fiduciary duty to – consider adding assets to its treasury that appreciate more than bonds, even if those assets are more volatile short-term.”

Bitcoin Could Fly to $150,000 Next

A mix of technical and market data indicates growing institutional interest in Bitcoin following Donald Trump’s reelection as president in November, which may set the cryptocurrency toward $150,000 in the coming weeks.

For instance, US-based spot Bitcoin exchange funds have collectively added $9.76 billion to its assets under management since the election results.

From a technical perspective, Bitcoin has entered the breakout stage of its prevailing cup-and-handle pattern, suggesting a potential upside target of $300,000, a 219% increase from current levels.

As of Dec. 10, Bitcoin faced resistance near $101,930, its 1.618 Fibonacci retracement level. Failure to break through could push prices back to $69,000, the 1.0 Fib level.

A breakout above $101,930, on the other hand, could trigger price discovery, with a target of $150,000 at the 2.618 Fib level. Microsoft—or even Amazon—agreeing to add Bitcoin to its Treasury may enable such a breakout move in the coming weeks.