Microsoft shareholders voted in opposition to Michael Saylor’s proposal to spend money on Bitcoin to diversify its portfolio.
The shareholder vote befell on Tuesday, December 12, and nearly all of the MSFT shareholders voted in opposition to the proposal.
Microsoft Received’t be Investing in Bitcoin
Michale Saylor ready a 3-minute presentation on December 1, urging the Microsoft board so as to add Bitcoin to its portfolio. The MicroStrategy CEO stated Bitcoin is the seventh largest asset on the earth, and its market cap will quickly attain $2 trillion.
Lower than per week after Saylor’s proposal, Bitcoin soared to its $100,000 milestone and, as Saylor had predicted, achieved over a $2 trillion market cap. He additionally projected Bitcoin’s reaching a $200+ trillion market cap by 2045.
Nonetheless, these proposals weren’t sufficient to influence Microsoft’s shareholders. As BeInCrypto reported earlier, the corporate’s board cautioned shareholders in opposition to this proposal, saying that it will add “pointless” dangers.
In the meantime, Microsoft’s inventory market competitor, Amazon, is taking a special strategy. Yesterday, Amazon’s stakeholders proposed allocating $88 billion of its money reserves to spend money on Bitcoin.
This contrasting strategy highlights the differing methods main firms are adopting concerning cryptocurrency as an funding asset.
Disclaimer
In adherence to the Belief Venture tips, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nonetheless, readers are suggested to confirm information independently and seek the advice of with an expert earlier than making any choices primarily based on this content material. Please word that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.