JUST IN: Microsoft’s Crucial Bitcoin Vote Gets Finalized

Microsoft shareholders have voted down a proposal to add Bitcoin (BTC) to the company’s treasury reserves. The decision was announced during Microsoft’s annual meeting and signaled that the tech giant will not join the growing list of companies holding Bitcoin as a reserve asset. Titled “Evaluating Investment in Bitcoin,” the proposal was submitted by the National Center for Public Policy Research, a conservative think tank. It suggested that Microsoft allocate 1% of its total assets (about $784 million based on the company’s $78.4 billion in cash and marketable securities) to Bitcoin. Proponents of the proposal argued that such a move could act as a hedge against inflation. But Microsoft's board had urged shareholders to vote against the proposal, citing Bitcoin's price volatility and the company's preference for stable and predictable investments. Ahead of the vote, MicroStrategy Chairman and a strong Bitcoin advocate, Michael Saylor, gave a three-minute presentation to shareholders. Saylor brought up MicroStrategy’s success, noting a staggering 2,500% increase in its stock price since adopting Bitcoin as part of its treasury strategy four years ago. Saylor argued that Microsoft was missing out on $200 billion in potential capital gains by focusing on dividends and stock buybacks instead of buying Bitcoin. Despite his compelling defense, the board’s concerns about Bitcoin’s volatility ultimately won out. *This is not investment advice. Continue Reading: JUST IN: Microsoft’s Crucial Bitcoin Vote Gets Finalized