Kei Takeaways
- Microsoft shareholders rejected a proposal to add bitcoin to its balance sheet.
- The proposal was rejected due to concerns about the volatility of Bitcoin.
Microsoft shareholders voted against a proposal to explore adding bitcoin to the company’s balance sheet during its annual meeting.
The proposal, presented by the National Center for Public Policy Research, suggests diversifying 1% of Microsoft’s $78 billion in cash and marketable securities into Bitcoin as a hedge against inflation.
The company’s board recommended that shareholders reject the measure, citing concerns about bitcoin’s volatility and stressing that Microsoft prefers stable investments.
Michael Saylor, CEO of MicroStrategi, made a last-minute effort to support the proposal.
Saylor claimed that Microsoft “lost $200 billion in potential capital gains over the past five years by prioritizing dividends and share buybacks over bitcoin.”
The board maintained that bitcoin’s volatility made it unsuitable for Microsoft’s investment strategy, which focuses on predictable and risk-averse investments.
After the announcement, Microsoft shares remained at $446, while Bitcoin fell over 4% to $95,000 in the last 24 hours.
