What to know:
- Microsoft shareholders voted against a proposal that would have directed the company board to consider adding bitcoin to the firm’s treasury holdings.
- The National Center for Public Policy Research had put forward the proposal.
- MicroStrategy Executive Chairman Michael Saylor had put together a presentation for the board that argued for the crypto’s benefits.
As a seasoned researcher with years of experience in the ever-evolving tech industry, I find myself intrigued by Microsoft’s latest move (or lack thereof) regarding Bitcoin. Having closely followed MicroStrategy’s foray into cryptocurrencies and their subsequent success, I was hopeful that Microsoft might consider joining the bandwagon.
It seems that Microsoft (MSFT) won’t likely be joining the ranks of companies owning Bitcoin (BTC) in the near future, as their shareholders have rejected a proposition urging the board to explore this possibility.
Under the title “Examining the Option of Bitcoin Investment,” the National Center for Public Policy Research presented an idea. This idea was that Microsoft might want to explore the possibility of allocating 1% of its total assets towards Bitcoin, as a potential protection against inflation. As per the most recent Bloomberg figures, Microsoft currently manages $78.4 billion in cash and marketable securities.
The board last month had urged shareholders to vote against the proposal.
The preliminary vote result was announced minutes ago at the company’s annual meeting.
After the announcement, Microsoft shares were being sold at approximately $446 each, remaining unchanged for the day. Previously stressed on Tuesday, the value of Bitcoin dipped slightly following the news and is now down by 4% over the last 24 hours, currently standing at around $95,700.
Michael Saylor gets involved
Michael Saylor, the executive chairman of Bitcoin Development Company MicroStrategy (MSTR), delivered a presentation lasting three minutes. The stock price of this company has soared up to 2,500% since they incorporated bitcoin into their financial strategy over four years ago. However, his aim in this presentation was to persuade shareholders that there’s still room for optimism about the future.
According to Saylor, Microsoft could have amassed approximately $200 billion in value if they had invested those funds in Bitcoin over the past five years, rather than distributing it through dividends and share repurchases.
Initially, Microsoft’s board expressed reservations about Bitcoin because of its intrinsic volatility. The board prefers investments that are steady and reliable, aiming to minimize risk as much as they can.
Read More
- SUI PREDICTION. SUI cryptocurrency
- „People who loved Dishonored and Prey are going to feel very at home.” Arkane veteran sparks appetite for new, untitled RPG
- LDO PREDICTION. LDO cryptocurrency
- Destiny 2: A Closer Look at the Proposed In-Game Mailbox System
- Clash Royale Deck Discussion: Strategies and Sentiments from the Community
- Jennifer Love Hewitt Made a Christmas Movie to Help Process Her Grief
- ICP PREDICTION. ICP cryptocurrency
- Naughty Dog’s Intergalactic Was Inspired By Akira And Cowboy Bebop
- Critics Share Concerns Over Suicide Squad’s DLC Choices: Joker, Lawless, and Mrs. Freeze
- EUR IDR PREDICTION
2024-12-10 20:06