Microsoft shareholders firmly rejected a proposal to explore Bitcoin investments at the annual meeting. Despite MicroStrategy’s Michael Saylor pitching its transformative potential, the board’s recommendation to oppose the measure shaped the final decision, sparking fresh debate on crypto adoption.
Microsoft Shareholders Reject Bitcoin Investment Proposal
A plan to initiate Microsoft's evaluation of investing in Bitcoin was defeated by shareholders.
At 8:30 a.m. Pacific Time, today's annual meeting of Microsoft shareholders got underway.
The National Center for Public Policy Research (NCPPR), a conservative think group, reportedly suggested using the biggest cryptocurrency to diversify Microsoft's assets, as reported by U.Today. In support of this position, the think tank cited Bitcoin's outperformance.
The board of directors of the $3.3 trillion tech giant MicroStrategy was recently offered Bitcoin by Michael Saylor, the executive chairman of the company, earlier this month.
Bitcoin Strategy Faces Resistance from Microsoft Board
Saylor speculated in a recent interview with CNBC that Microsoft's market cap could increase by trillions if the software giant were to acquire Bitcoin.
But Saylor's attempts failed miserably. Only 12% of the polymarket's gamblers were right about Microsoft's board of directors voting to accept Bitcoin.
Notably, the board of directors at Microsoft has suggested that the company vote down the idea. As a result, its chances of passing were obviously poor.
Will Microsoft Regret Rejecting Bitcoin?
A former hedge fund manager named James Lavish thinks the board will come to regret passing on Bitcoin. He went on to say that Microsoft would pay a premium to acquire the market leader in cryptocurrencies.
Megacorporations' immediate adoption of Bitcoin was never something Saylor anticipated, as he has already stated. He does, however, anticipate that cryptocurrencies will eventually be "part of the conversation."
Also advised to implement a Bitcoin strategy earlier this week was computer behemoth Amazon.
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