New information has emerged that indicates Microsoft shareholders are strongly opposed. suggestion I started investing in Bitcoin on Tuesday, even though the asset was described as an effective inflation hedge.
Only 0.55% of shareholders supported the stock purchase proposal. Bitcoin. Exceeded the top cryptocurrencies by market capitalization $100,000 once again for each coin Wednesday.
According to Microsoft's annual investor newsletter, reportMicrosoft shareholders voted 28,234,000 in favor of the proposal, compared to an overwhelming 5,148,000,000 who voted against and 22,600,000 who abstained.
Microsoft's board of directors urged shareholders to reject the proposal ahead of a shareholder vote, citing the volatility of cryptocurrencies.
“Bitcoin is currently a more volatile asset than corporate bonds, so companies should not jeopardize shareholder value by holding too much Bitcoin,” Microsoft said in a briefing. shareholder meeting.
“But neither should companies ignore Bitcoin completely and risk shareholder value, as Bitcoin is a good, if not the best, inflation hedge, and corporate bond yields are lower than actual inflation rates.” .”
Although a majority of shareholders rejected the proposal, Microsoft acknowledged that companies should evaluate the benefits of holding at least 1% of their assets in Bitcoin.
changing wind
The final vote from Microsoft shareholders comes as several companies begin to add assets to their balance sheets this year as part of their corporate strategies.
Earlier this month, healthcare technology company Semler Scientific added: $30 million With Bitcoin. Monday, National Center for Public Policy Recommended Amazon converts at least 5% of its assets into Bitcoin. A decision is expected to be made around spring next year.
Microsoft highlighted Microstrategy as the largest private Bitcoin holder. This company recently added 1.5 billion dollars The total amount of Bitcoin held is 423,650 BTC, and its value is approximately $42 billion.
“MicroStrategy, like Microsoft, is a technology company, but unlike Microsoft, it has Bitcoin on its balance sheet, even though it does only a small portion of Microsoft's business. , the company's stock has outperformed Microsoft's by 313% this year. And they're not alone,” the agent said. statement.
“Bitcoin adoption by institutions and businesses is becoming more common. BlackRock, Microsoft’s second largest shareholder, offers a Bitcoin ETF to its customers.”
Despite rejecting the Bitcoin proposal, Microsoft said it was evaluating a wide range of assets for investment. Microsoft's Global Treasury and Investment Services team said it will continue to monitor developments related to Bitcoin and cryptocurrencies “to inform future decision-making.”
“As the proposal itself points out, volatility should be considered when evaluating crypto investments for corporate finance applications that require stable and predictable investments to ensure liquidity and operating capital. Microsoft said.
Edited by Sebastian Sinclair
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