Microsoft’s Bitcoin proposal was rejected by shareholders
Microsoft shareholders objected to Michael Sayler's proposal to invest in Bitcoin to grow his portfolio. The shareholder vote was held on Tuesday, December 12, and the majority of MSFT shareholders voted against the proposal.
Microsoft is not investing in Bitcoin.
Michale Saylor gave a 3-minute presentation on December 1st, urging Microsoft's board to add bitcoin to its portfolio. The CEO of MicroStrategy says Bitcoin is the seventh largest asset in the world and its market value will soon reach $2 trillion.
Less than a week after Saylor's proposal, Bitcoin soared to the $100,000 milestone and achieved a market cap of more than $2 trillion, as Saylor had predicted. He predicted that by 2045, Bitcoin would reach a market cap of $200+ trillion.
However, these proposals were not enough to convince Microsoft shareholders. BeCrypto previously reported that the company's board warned shareholders against the proposal, saying it would add “unnecessary” risks.
Meanwhile, Microsoft's stock market rival, Amazon, is taking a different approach. Yesterday, Amazon's shareholders proposed that they allocate $88 billion of their cash reserves to invest in Bitcoin.
This contrasting approach highlights the different strategies that major corporations are pursuing regarding cryptocurrency as an investment asset.
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