Microsoft Shareholders Say No To Accepting Bitcoin
Microsoft shareholders voted against a proposal that urged the company to invest a portion of its assets in Bitcoin (BTC).
Potential Hedge Against Inflation
The proposal, presented by the National Center for Public Policy Research (NCPPR), suggested that Microsoft allocate 1% of its financial assets to Bitcoin, viewing the cryptocurrency as a potential hedge against inflation.
The proposal was put to a vote during the annual shareholder meeting of Microsoft, but it was rejected as the majority of shareholders aligned with the board of directors&39 recommendation to dismiss the idea.
Saylor Steps In
During the meeting, Michael Saylor took the opportunity to address the shareholders and advocate for Bitcoin. Saylor, whose company has made substantial investments in Bitcoin, emphasized its role as a store of value in times of economic uncertainty and inflation. He argued that Bitcoin could offer stability in an unpredictable economic landscape.
Despite his presentation, the proposal was ultimately turned down, with the board of directors expressing concerns about the high volatility of BTC, which they believed could pose a significant risk to Microsoft&rsquos financial stability. The decision highlights the ongoing debate among investors about the role of cryptocurrencies in traditional corporate portfolios.
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