Microsoft Rejects Bitcoin Reserves: Saylor’s Proposal Falls Flat
Microsoft shareholders rejected a proposal to add bitcoin to the company’s reserves, aligning with the board’s recommendation to stick to a diversified, lower-risk investment strategy.
The proposal, introduced by the National Center for Public Policy Research, argued that bitcoin could safeguard against inflation and align Microsoft with crypto-friendly firms like Tesla and Microstrategy.
Despite a passionate pitch by Michael Saylor, emphasizing bitcoin’s potential to boost Microsoft’s market value by trillions over the next decade, the measure failed to gain traction. The decision reflects leadership’s skepticism about cryptocurrency’s volatility, even as other corporations explore bitcoin as a financial strategy.
Clever Robot News Desk 12th December 2024
