Less than 1% of Microsoft shareholders voted to invest in Bitcoin

Microsoft shareholders a Proposal On Tuesday to invest in Bitcoin, even though the asset is described as effectively inflation-proof.

0.55% of shareholders supported the proposal to buy and hold Bitcoin. It has passed the leading crypto by market capitalization 100,000 dollars per cent again at Wednesday.

According to the annual Microsoft Investor Relations Report28.234 million Microsoft shareholders voted in favor of the proposal, with an overwhelming 5.148 billion against, with 22.6 million abstaining.

Microsoft's board of directors urged shareholders to vote on the proposal ahead of the shareholder vote, citing the cryptocurrency's volatility.

“Currently, it's a more volatile asset than corporate bonds, so companies shouldn't risk the stock price by holding too much,” Microsoft said. shareholder Meeting.

However, companies should not risk shareholder value by ignoring bitcoin entirely, as bitcoin is an excellent, if not excellent, index to inflation and corporate bond yields are lower than actual inflation.

While most shareholders rejected the idea, Microsoft admitted that companies should evaluate the merits of holding at least 1% of their assets in Bitcoin.

Variable winds

Microsoft's final shareholder vote will come this year as they begin sorting out assets on the balance sheet as part of their corporate strategy.

Earlier this month, health care technology company Semler Scientific added. 30 million dollars In Bitcoin. Monday, National Center for Public Policy Recommended Amazon converts at least 5% of its assets to Bitcoin. A decision is expected sometime next year in the spring.

Microsoft has highlighted MicroStrategy as the largest private bitcoin holder. This company recently got more 1.5 billion dollars In Bitcoin, bringing the total holdings to 423,650 BTC, approx 42 billion dollars.

“Microstrategy — which is a tech company like Microsoft, but unlike Microsoft, holds bitcoin on its balance sheet — shares are up 313% this year, despite doing only a fraction of the business that Microsoft does. And they're not alone,” the proxy said. press release.

“Institutional and corporate adoption of Bitcoin is becoming more common. Microsoft's second largest shareholder, BlackRock, offers its clients a Bitcoin ETF.

Microsoft rejected the Bitcoin proposal, but said it would consider a wide range of assets to invest in. Microsoft's global treasury and investment services team said it will continue to monitor trends related to Bitcoin and cryptocurrency “to inform future decision-making.”

“As the concept itself suggests, flexibility is a consideration in evaluating cryptocurrency investments for corporate treasury applications that require stable and predictable investments to ensure flexibility and functional funding,” Microsoft said.

Edited by Sebastian Sinclair.