📰 Microsoft Shareholders Reject Bitcoin Proposal From Michael Saylor
Microsoft investors vote against using company reserves to buy Bitcoin.
During Microsoft’s MSFT 0.00%↑ annual shareholder meeting, shareholders voted against a proposal from MicroStrategy’s Executive Chairman, Michael Saylor, to allocate part of Microsoft’s reserves into Bitcoin. Saylor, a leading advocate for Bitcoin, argued that using some of Microsoft’s cash flows, dividends, and buybacks for Bitcoin purchases could significantly enhance the company’s value and provide a hedge against inflation.
Despite Saylor’s persuasive arguments, citing Bitcoin’s potential for high returns and its ability to mitigate risks, Microsoft’s investors rejected the idea. The vote reflects a broader skepticism toward cryptocurrencies in the corporate world, with shareholders preferring to maintain Microsoft’s traditional investment strategy focused on less volatile assets.
This decision highlights the ongoing debate about Bitcoin’s place in corporate finance. While companies like MicroStrategy and Tesla have embraced Bitcoin, Microsoft’s shareholders remain cautious, indicating that convincing large tech companies to adopt cryptocurrencies as part of their financial strategies may take more time.
Source: CNBC, Business Insider
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