Microsoft shareholders voted against Michael Saylor’s proposal to invest in Bitcoin to diversify its portfolio.
The shareholder vote took place on Tuesday, December 12, and the majority of the MSFT shareholders voted against the proposal.
Microsoft Won’t be Investing in Bitcoin
Michale Saylor prepared a 3-minute presentation on December 1, urging the Microsoft board to add Bitcoin to its portfolio. The MicroStrategy CEO said Bitcoin is the seventh largest asset in the world, and its market cap will soon reach $2 trillion.
Less than a week after Saylor’s proposal, Bitcoin soared to its $100,000 milestone and, as Saylor had predicted, achieved over a $2 trillion market cap. He also projected Bitcoin’s reaching a $200+ trillion market cap by 2045.
However, these proposals weren’t enough to persuade Microsoft’s shareholders. As BeInCrypto reported earlier, the company’s board cautioned shareholders against this proposal, saying that it would add “unnecessary” risks.
Meanwhile, Microsoft’s stock market competitor, Amazon, is taking a different approach. Yesterday, Amazon’s stakeholders proposed allocating $88 billion of its cash reserves to invest in Bitcoin.
This contrasting approach highlights the differing strategies major corporations are adopting regarding cryptocurrency as an investment asset.
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Mohammad Shahid
https://beincrypto.com/shareholders-reject-microsoft-bitcoin-proposal/
2024-12-10 17:33:48
