MicroStrategy’s CEO Michael Saylor has not been able to convince the company. Microsoft (MSFT) Shareholders have rejected the Bitcoin investment strategy. This decision means that the company will not be adding the most popular cryptocurrency to its Treasury holdings.
A positive vote would not have established a holding but it would have instructed the board to examine the consequences of the decision. MicroStrategy Over the last 12 months, Bitcoin has become the most popular investment. The company shares have risen by nearly 2,500% since 2020, when it began purchasing Bitcoin.
Microsoft has just released a new update. $MSFT shareholders vote against #Bitcoin investment proposal.
— Watcher.Guru (@WatcherGuru) December 10, 2024
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Microsoft Will not Add Bitcoin to Treasury Holdings After Rejecting Proposal
In 2024. Bitcoin The finance industry has continued to focus on this asset class. The asset class was a big hit with the mainstream for most of this year. However, this went into high gear in November after Donald Trump was declared the winner of the 2024 elections.
The rush to adopt the asset class did not go as predicted. Microsoft’s shareholders voted down a Bitcoin proposal despite the allure of it. The decision is a clear indication that Microsoft will not adopt Bitcoin in its portfolio anytime soon.
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Initial proposals were made by National Center for Public Policy Research. Titled ‘Assessment of Investing in Bitcoin,’ it suggested diversification into BTC could provide a good hedge against inflationary concerns. Microsoft has $78.4billion worth of cash and securities according to the latest data.
Microsoft’s Bitcoin Strategy proposal came after a pitch by MicroStrategy’s founder and CEO Michael Saylor. Michael Saylor, the CEO of MicroStrategy, reportedly made a presentation for three minutes in order to try and convince shareholders. Microsoft opted not to pursue the possibility, even though the move was a huge success for Saylor’s company. Amazon, and other companies that openly discuss the possibility of making a similar decision are now in focus.
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Source: watcher.guru
