On Wednesday (November 20), Bitcoin continued to maintain strength above $92,000, reaching an all-time high of $93,904 overnight, not far from the $100,000 target price. Following the rise of the 'Trump Trade', Microsoft will vote on December 10 whether to buy Bitcoin, and MicroStrategy CEO Saylor will have 3 minutes to persuade Wall Street giants to enter.
As a Bitcoin bull and chairman of MicroStrategy, Saylor stated that he agreed to give a 3-minute presentation to the Microsoft board about investing in Bitcoin.
'The activist who proposed the motion contacted me and wanted me to present it to the board. I agreed to make a 3-minute statement — that's all the time you are allowed — and I will submit it to the board,' Saylor said during a Twitter Spaces meeting hosted by VanEck.
Saylor stated that he had previously proposed a 'private' meeting with Microsoft CEO Satya Nadella to discuss the topic, but this proposal was not accepted.
'Therefore, you will see me draft a 3-minute proposal for Microsoft, and we will submit it to the board,' he added.
In October, Microsoft disclosed that one of its voting items in December will be whether to evaluate investments in Bitcoin.
The National Center for Public Policy Research (NCPPR) promoted this proposal, which highlights MicroStrategy's Bitcoin investment strategy and notes that although its business accounts for only a small part of Microsoft, its stock price has exceeded Microsoft's by over 300% this year.
'I don't think it's a bad idea to include it on every company's agenda. It should be on the agenda of Berkshire Hathaway, Apple, Google, and Meta, as they all have a lot of cash and are all consuming shareholder value,' Saylor said.
He added that 98.5% of Microsoft's enterprise value (total company value) comes from its quarterly earnings, while 1.5% of its stock value comes from its tangible assets.
'If half of a stock's enterprise value is based on tangible assets or properties like Bitcoin, then the stock will be more stable, and the risks will be much lower. So I think that's a good reason. I think shareholders should do this.'
The shareholder proposal for Microsoft to vote on whether to buy Bitcoin will be voted on December 10.
The Microsoft board recommends voting against, as they have already 'evaluated various investable assets including Bitcoin.'
However, NCPPR's Vice President of the Free Enterprise Project, Ethan Peck, later emphasized that if Microsoft evaluates and decides not to invest in the asset, the proposal could put Microsoft in a difficult position.
The Microsoft board currently consists of 12 members, including Nadella, who also serves as chairman, and executives from The Walt Disney Company, Citigroup, Wells Fargo, and GlaxoSmithKline.
