Originally published on: December 10, 2024
During Microsoft’s annual meeting on Dec. 10, shareholders shot down a proposal to incorporate Bitcoin into the company’s balance sheets. The idea, proposed by the National Center for Public Policy Research (NCPPR), aimed to diversify profits for the benefit of shareholders.
In a bid to convince Microsoft, the NCPPR presented a compelling video highlighting the potential value Bitcoin could bring to the tech giant. The video emphasized that by embracing Bitcoin, Microsoft could unlock trillions in value and reduce risk for shareholders. Despite acknowledging the volatility of Bitcoin, the NCPPR suggested allocating 1% to 5% of profits towards the cryptocurrency.
However, Microsoft’s board, in a statement to the US Securities and Exchange Commission (SEC), dismissed the proposal as unnecessary. The board reaffirmed the company’s commitment to managing its treasury effectively for long-term shareholder gains.
While Bitcoin proponent Michael Saylor made a passionate plea for Microsoft to adopt Bitcoin, the board remained unconvinced. They pointed out that MicroStrategy’s model of operation did not necessarily align with Microsoft’s strategy.
Ultimately, the shareholders’ decision reflected the board’s recommendation to steer clear of incorporating Bitcoin into Microsoft’s reserves. The NCPPR has also put forth a similar proposal to Amazon, which will be up for consideration in 2025.
As the debate between traditional companies and cryptocurrency enthusiasts continues, the outcome of such proposals sheds light on the evolving landscape of financial investments. For more market insights and investment opportunities, subscribe to our newsletter and stay ahead in the financial world.
