Microsoft Shareholders Reject Proposal to Add Bitcoin to Balance Sheet
- Microsoft shareholders have voted against adding Bitcoin to their balance sheet.
- The proposal was put forward by the National Center for Public Policy Research.
Details of the Vote
On December 10, Microsoft shareholders rejected the proposal to include Bitcoin in their balance sheet. This decision means that Microsoft will not be considering adding the world’s largest cryptocurrency to its treasury anytime soon.
Michael Saylor’s Call
Michael Saylor, the founder and Chairman of MicroStrategy, had also advocated for Microsoft to adopt a Bitcoin treasury. He suggested that this move could potentially add trillions of dollars to Microsoft’s market cap.
Microsoft Board’s Response
The Microsoft board urged shareholders to vote against the proposal, citing concerns about the potential risks and benefits of investing in Bitcoin.
Proposal Details
The proposal by the National Center for Public Policy Research recommended a 1% allocation of Microsoft’s assets into Bitcoin. It argued that diversifying with Bitcoin could help hedge against inflation and benefit shareholders.
Saylor’s Presentation
Michael Saylor presented a 3-minute pitch to Microsoft’s Board of Directors, emphasizing the advantages of incorporating Bitcoin into the company’s investment strategy.
Despite the rejection of the proposal, there is optimism within the crypto industry about the potential implications of such initiatives. The National Center for Public Policy Research has also submitted a similar proposal to Amazon.
Market Performance
At the time of writing, Microsoft shares were trading at $446.98, with Bitcoin prices experiencing fluctuations but maintaining above $95,000. The market sentiment remains mixed as investors navigate the evolving landscape of digital assets.
