Justin Sun, the founder of the TRON (CRYPTO: TRX) blockchain, threw a jibe on Tuesday at Microsoft’s decision not to consider adding Bitcoin (CRYPTO: BTC) to its reserves, saying that it was motivated due to the leading cryptocurrency’s price not being “high enough.”
What happened: Sun took to X to express his views on the keenly monitored annual meeting of the tech giant. The shareholders voted against a proposal urging the company to study adding Bitcoin to its balance sheet.
“The Bitcoin price is just not high enough for Microsoft to consider it as a reserve,” the cryptocurrency mogul said in what looked like a cheeky dig. “I highly recommend buying it when Bitcoin reaches 1 million USD.
Sun has been one of Bitcoin’s early believers, buying into the asset back in 2013. He remains one of the largest publicly known cryptocurrency investors, boasting a portfolio worth nearly $2 billion, per data from Arkham Intelligence.
Anthony Pompliano, founder and CEO of Professional Capital Management and a Bitcoin advocate, also took potshots at Microsoft’s decision, saying, “Bitcoin doesn’t care about Microsoft, but eventually Microsoft will care about Bitcoin.”
See Also: Ark Invest’s Cathie Wood Hails Bitcoin’s $100K Climb As A ‘Big Deal,’ Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency
Why It Matters: Microsoft’s board expressed concerns over Bitcoin’s volatility and wanted to maintain its focus on stable and predictable investments.
A proposal in October urged the board to evaluate the benefits of a corporate Bitcoin strategy, one on the lines of Michael Saylor’s MicroStrategy, the biggest corporate holder of the digital asset. In fact, Saylor himself explained the pros of such a move in a 3-minute presentation earlier this month.
Price Action: As of this writing, Bitcoin was trading at $96,148.94, down 1.82% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Wikimedia Commons
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