Key Takeaways:
- Shareholders Reject Bitcoin Reserve Proposal: Microsoft shareholders voted against a proposal to allocate a portion of profits to Bitcoin reserves, citing concerns over volatility and operational funding priorities.
- Board Opposition: Microsoft’s board labeled the proposal as “unnecessary,” emphasizing its current approach to stable treasury management and rejecting Bitcoin’s potential value proposition for the company.
- Think Tank Advocacy: The NCPPR pushed for Bitcoin adoption, citing its long-term value and diversification potential but failed to sway shareholders, with a similar proposal now pending at Amazon.
Microsoft shareholders have rejected a proposal to allocate part of the company’s balance sheet to Bitcoin (BTC).
The proposal, presented at the annual shareholder meeting on December 10 by the National Center for Public Policy Research (NCPPR), suggested Bitcoin adoption could diversify profits and provide long-term value.
Microsoft said 'NO' to buying #Bitcoin
— Bitcoin Archive (@BTC_Archive) December 10, 2024
They also said no to the smartphone when Steve Jobs launched the iPhone.
That turned out well for them… 😅 pic.twitter.com/GuIagEC5zk
The NCPPR argued that Microsoft should invest 1-5% of its profits in Bitcoin and conduct a formal assessment of its potential benefits, citing data on Bitcoin’s value creation and its role in the next technological wave.
Despite acknowledging Bitcoin’s volatility, the proposal emphasized its potential as a strategic asset.
Microsoft’s board opposed the idea, labeling it unnecessary in a filing with the U.S. Securities and Exchange Commission (SEC).
MICHAEL SAYLOR’S BITCOIN PRESENTATION BEING PLAYED AT MICROSOFT SHAREHOLDER MEETING pic.twitter.com/Zp9FdlbeDB
— Bitcoin News (@BitcoinNewsCom) December 10, 2024
The board stressed its commitment to stable treasury management and noted it already evaluates cryptocurrencies among other investments.
It dismissed comparisons to firms like MicroStrategy and BlackRock as inadequate justification.
Shareholders sided with the board, prioritizing liquidity and operational funding over Bitcoin investment.
A similar proposal by the NCPPR is slated for Amazon’s April 2025 meeting, where it will argue for Bitcoin as an inflation hedge amidst rising costs.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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