Microsoft Advises Shareholders to Oppose Bitcoin Investment Proposal

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Tech leader Microsoft has recommended its shareholders to oppose a resolution that encourages the company to explore investments in Bitcoin (BTC).

On October 24, Microsoft disclosed in a filing with the US Securities and Exchange Commission (SEC) that the resolution, titled “Evaluation of Investing in Bitcoin,” will be voted on during its upcoming shareholder assembly on December 10

The company’s board advised shareholders to vote against the resolution, stating that the firm already assesses “a broad spectrum of investable assets.”

MicroStrategy Surpasses Microsoft by 300% This Year

The resolution was introduced by the National Center for Public Policy Research (NCPPR), which claimed that MicroStrategy has outperformed Microsoft by 300% this year thanks to its Bitcoin investment strategy.

It further stated that MicroStrategy achieved this “even while conducting a fraction of the business compared to Microsoft.”

Good evening.

It’s official. At the December 10th Annual Meeting, Microsoft shareholders will vote on ‘Investing in #Bitcoin‘. Though the Board officially recommends ‘Against’ this measure, the significance is clear: #Bitcoin can no longer be simply ignored by public companies…

— James Lavish (@jameslavish) October 24, 2024

Adoption of Bitcoin by institutions and corporations is increasingly becoming “routine” following the introduction of US spot Bitcoin ETFs (exchange-traded funds), as stated by the NCPPR.

Despite the volatility of BTC, the NCPPR maintains that the leading cryptocurrency could still provide a safeguard against inflation and corporate bond yields, asserting that BTC is an “excellent, if not the best, hedge against inflation.”

”At the very least, companies should consider the advantages of holding a portion, even just 1% of their assets in Bitcoin,” it stated.

Microsoft’s History with Bitcoin

Even with the board’s recommendation against the resolution, Microsoft has previously explored Bitcoin and its technology. From 2014 to 2018, the company accepted Bitcoin as payment in BTC at its Xbox online store.

Currently, the firm is focusing more on artificial intelligence initiatives. In 2019, it invested $1 billion into OpenAI and followed up with an additional $10 billion in January 2023.

Microsoft’s stock price saw a slight increase over the past 24 hours, trading at $424.73 as of 2:38 a.m. EST. During the same time, MicroStrategy’s share price surged more than 10%, coinciding with an upward trend in the Bitcoin price.

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