Only 0.55% of Microsoft (MSFT) shareholders voted for a proposal to put bitcoin (BTC) on the company’s balance sheet, according to a recent company filing with the Securities and Exchange Commission.
The proposal to add bitcoin to Microsoft’s balance sheet was put to a shareholder vote on November 10 and was put forward by the National Center for Public Policy Research, which recommended that Microsoft allocate 1% of its total assets to BTC as a potential hedge against inflation.
Microsoft’s board opposed the proposal, citing Bitcoin’s volatility and favoring stable investments, despite Michael Saylor’s pitch highlighting MicroStrategy’s success and Microsoft’s $200 billion capital outflow from dividends and buybacks.
Some of the other proposed shareholder motions, which would have directed the company to produce a report on AI and Misinformation/Disformation, as well as another which would highlight the risks of weapons development did not pass.
Prediction markets were skeptical that Microsoft would make a move to adopt the digital asset, with Polymarket bettors giving it a 12-16% chance of the motion being ratified.
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Sam Reynolds
https://www.coindesk.com/markets/2024/12/12/less-than-1-of-microsoft-shareholders-voted-for-btc-proposal
2024-12-12 05:08:18
