Microsoft shareholders will vote on December 10 on a proposal to include Bitcoin on the company’s balance sheet, which was put forward by the shareholder advisory committee. Here is the relevant information about the event:
Proposal Background
MicroStrategy CEO Michael Saylor proposed to the Microsoft board of directors that if Microsoft adopts a Bitcoin strategy, its profits may increase, and showed that Bitcoin has outperformed Microsoft's stock by an average of 10 times each year in the past four years, calling Bitcoin "the best performing non-correlated asset." In addition, the National Center for Public Policy Research also proposed this proposal, believing that Bitcoin is an excellent tool to fight inflation.
Board of Directors' Attitude
Microsoft's board of directors expressed opposition to the proposal, believing that the high volatility of cryptocurrencies such as Bitcoin makes them unsuitable for maintaining corporate financial liquidity and operating capital stability, and that the company's management has carefully considered this issue and believes that there is no need for further evaluation.
Position of major shareholders
Microsoft's major shareholders, such as Vanguard, BlackRock and Fidelity, already indirectly hold crypto assets, and their attitudes are crucial to the voting results. Among them, BlackRock is the issuer of the largest spot Bitcoin ETF, and its representatives are optimistic about crypto investment; while Vanguard has reservations about the long-term prospects of cryptocurrencies; State Street Holding Company also has a positive attitude towards crypto investment.
Impact of the incident
If the proposal is passed, the price of Bitcoin is expected to exceed $100,000, which is good for Bitcoin and related crypto assets, and may also prompt more companies to consider including Bitcoin in their asset allocation, promoting the development of the cryptocurrency market. If it is not passed, it may temporarily suppress the optimism in the cryptocurrency market, but it also reflects the cautious attitude of companies in the face of emerging investment areas.
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