Microsoft Urges Shareholders To Reject Bitcoin Investment Proposal

Software
giant
Microsoft
has
advised
its
shareholders
to
vote
against
a
proposal
that
urges
the
company
to
consider
investing
in
Bitcoin
(BTC).

Microsoft
revealed
in
an
Oct.
24


filing

with
the
US
Securities
and
Exchange
Commission
(SEC)
that
the
proposal,
entitled
“Assessment
of
Investing
in
Bitcoin,”
will
be
put
to
a
vote
at
its
upcoming
shareholder
meeting
on
Dec.
10

The
company’s
board
recommended
that
investors
vote
against
the
proposal
because
the
firm
already
evaluates
“a
wide
range
of
investable
assets.”

MicroStrategy
Outperforms
Microsoft
By
300%
This
Year

The
proposal
was
made
by
the
National
Center
for
Public
Policy
Research
(NCPPR),
which
argued
that
MicroStrategy
has
outperformed
Microsoft
by
300%
this
year
due
to
its
Bitcoin
investment
strategy.

It
added
that
MicroStrategy
was
able
to
do
this
“despite
doing
a
fraction
of
the
business
of
Microsoft.”

Good
evening.

It’s
official.
At
the
December
10th
Annual
Meeting,
Microsoft
shareholders
will
vote
on ‘Investing
in

#Bitcoin‘.
Though
the
Board
officially
recommends ‘Against’
this
measure,
the
significance
is
clear:

#Bitcoin
can
no
longer
be
simply
ignored
by
public
companies…

—
James
Lavish
(@jameslavish)

October
24,
2024

Institutional
and
corporate
adoption
of


Bitcoin

is
also
becoming
more
“commonplace”
following
the
launch
of
US
spot
Bitcoin
ETFs
(exchange-traded
funds),
the
NCPPR
said.

Despite
BTC’s
volatility,
the
NCPPR
said
that
the
leading
crypto
could
still
offer
a
hedge
against
inflation
and
corporate
bond
yields.
It
added
that
BTC
is
an

“excellent,
if
not
the
best,
hedge
against
inflation.” 

Microsoft’s
History
With
Bitcoin

Despite
Microsoft’s
board
recommending
investors
vote
against
the
proposal,
the
company
has
explored
Bitcoin
and
its
technology
in
the
past.
Between
2014
and
2018,
the
company
accepted
payment
in


BTC

at
its
online
Xbox
store. 

However,
the
firm
is
now
more
focused
on
artificial
intelligence.
In
2019,
it
invested
$1
billion
into
OpenAI,
and
then
went
on
to
invest
another
$10
billion
in
January
2023.

Microsoft’s


share
price

rose
slightly
in
the
past
24
hours
to
trade
at
$424.73
as
of
2:38
a.m.
EST.
MicroStrategy’s
share
price
surged
more
than
10%
during
the
same
period,
after
the


Bitcoin

price
edged
up
during
the
same
period.

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