The idea was to consider adding Bitcoin to Microsoft’s treasury, which is a company’s pool of money used for investments.
The proposal, titled “Assessment of Investing in Bitcoin,” was put forward by the National Center for Public Policy Research. The think tank group suggested that Microsoft should invest 1% of its cash into Bitcoin. The goal is to protect itself from inflation. However, this suggestion didn’t sit well with Microsoft’s shareholders.
Saylor’s Bitcoin Proposal Rejected by Microsoft Shareholders
MicroStrategy Executive Chairman Michael Saylor, a known supporter of Bitcoin, tried to convince the shareholders. He wanted them to see the benefits of adding Bitcoin to Microsoft’s holdings. He made a presentation arguing that BTC could be a good investment, especially as a hedge against inflation.
Saylor believes that adding BTC to a company’s treasury could offer long-term financial protection, as its value tends to rise over time, especially during times of inflation. But despite his efforts, the shareholders didn’t buy it.
BREAKING: Michael Saylor shares his 3-minute presentation to Microsoft’s board, outlining why they should adopt a Bitcoin treasury strategy.
— Bitcoin News (@BitcoinNewsCom) December 1, 2024
Microsoft, which has over $78 billion in cash and marketable securities. So, they will not be following in the footsteps of other companies that have added Bitcoin to their balance. The Microsoft board had already recommended that shareholders vote against the proposal, and the preliminary results from the meeting confirmed their stance.
Microsoft’s Cautious Approach to Bitcoin: Risk Concerns Persist
While the decision to vote no wasn’t surprising, it still signals that Microsoft is not ready to jump on the Bitcoin bandwagon. The idea of investing in BTC is still a controversial topic, with many companies uncertain about the risks involved. Bitcoin, while growing in popularity, can be volatile, and some believe it’s a risky investment.
BREAKING: @Microsoft shareholders reject the proposal for a strategic #Bitcoin reserve.
In 5 years, they’ll understand.
Everyone buys Bitcoin at the price they deserve.#BTC doesn’t wait. It simply transfers wealth to those who see.— Michael Saylor ⚡ Founder of MicroStrategy (Parody) (@Saylorsatsire) December 10, 2024
This vote also reflects the cautious approach many traditional companies take when it comes to cryptocurrency. Though the digital asset market has grown significantly, some big players are still wary of diving into it. So, they prefer to stick with more traditional investments.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.