tl;dr
Microsoft shareholders strongly opposed a proposal to invest in Bitcoin, with only 0.55% in favor. The majority voted against, citing Bitcoin's volatility. However, Microsoft acknowledged the potential benefits and suggested companies evaluate holding at least 1% of assets in Bitcoin. This comes as ...
Microsoft shareholders rejected a proposal to invest in Bitcoin, citing volatility and risk to shareholder value. However, there is a growing trend of companies, such as Semler Scientific, adding Bitcoin to their balance sheets.
Even though the majority of Microsoft shareholders opposed the proposal, the company's Global Treasury and Investment Services team will continue to monitor cryptocurrency trends for future decision-making.
Only 0.55% of Microsoft shareholders supported the Bitcoin investment proposal, with the majority citing Bitcoin's volatility as the reason for rejection. The board of directors urged shareholders to vote against the proposal, emphasizing the cryptocurrency's volatility compared to corporate bonds.
Despite the rejection, Microsoft acknowledged the potential benefits of holding at least 1% of assets in Bitcoin, as a hedge against inflation.
Other companies, such as Semler Scientific and Microstrategy, have significantly added Bitcoin to their balance sheets, with Microstrategy's stock outperforming Microsoft's this year by 313%.
Microsoft's second-largest shareholder, BlackRock, offers its clients a Bitcoin ETF, indicating the increasing institutional and corporate adoption of Bitcoin.
Microsoft's Global Treasury and Investment Services team will continue to monitor trends related to Bitcoin and cryptocurrency for future decision-making, despite the rejection of the Bitcoin investment proposal.