Microsoft Shareholders Reject Bitcoin Investment Plan Despite Advocacy from Michael Saylor
At its annual meeting, Microsoft (MSFT) shareholders voted down a proposal advocating for the tech giant to explore allocating 1% of its $78.4 billion in cash reserves into bitcoin (BTC). The initiative, spearheaded by the National Center for Public Policy Research, aimed to position bitcoin as a hedge against inflation but failed to gain traction with Microsoft’s board and investors.
The board opposed the proposal, citing bitcoin’s notorious price volatility and potential risks to Microsoft’s commitment to financial stability and predictable returns. This recommendation aligned with the company’s longstanding conservative investment practices.
Bitcoin evangelist Michael Saylor, executive chairman of MicroStrategy (MSTR), addressed shareholders during the meeting, highlighting his firm’s successful integration of bitcoin into its treasury strategy. Saylor argued that by prioritizing dividends and stock buybacks over digital assets, Microsoft may have missed out on significant capital growth.
Despite his impassioned plea, shareholders sided with the board’s cautious stance. Microsoft’s stock remained steady at $446, while bitcoin extended its decline, dropping 4% to $95,700 following the decision.
The outcome underscores the divide between proponents of cryptocurrency adoption and corporations prioritizing traditional investment strategies, signaling Microsoft’s continued hesitation to embrace digital assets.
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