At the annual shareholders meeting held this Tuesday, Microsoft's major shareholders voted against a proposal to invest 1% of the company's total assets in Bitcoin. This proposal, put forward by the National Center for Public Policy Research, aimed to hedge against inflation risk by holding Bitcoin.
The Microsoft board had clearly expressed their opposition to the proposal before the vote and urged shareholders to reject it. The board believes that such an investment strategy does not align with the company's long-term financial planning and risk control standards. Additionally, Bitcoin, as a cryptocurrency, has a high price volatility, which may bring uncertainty and potential financial risks.
During the meeting, MicroStrategy Chairman Michael Saylor, a prominent Bitcoin supporter, attended in person and gave a three-minute speech in an attempt to persuade Microsoft's shareholders to support the proposal. MicroStrategy itself is known for its substantial investments in Bitcoin, and Saylor hoped to influence Microsoft's decision-making direction through his clout.
However, despite Saylor's support, Microsoft's shareholders ultimately chose to align with the board and rejected this bold investment proposal. Microsoft's largest shareholders are institutional investors, such as Vanguard Group and BlackRock, which typically prefer a more conservative investment strategy that values stability and long-term returns.
The result of this vote reflects Microsoft's stockholders' reservations about Bitcoin as an emerging asset class. As the cryptocurrency market continues to mature and develop, the corporate world's attitude towards digital currencies like Bitcoin may change in the future, but for now, Microsoft has chosen to maintain a cautious stance.
It is noteworthy that while Microsoft did not adopt the suggestion to invest directly in Bitcoin, it has not completely ruled out participating in the development of blockchain technology and related services. In fact, Microsoft has been actively exploring how to leverage blockchain technology to improve its products and services, providing more value to its customers.
In summary, this vote reflects the industry's gradually forming views on cryptocurrencies as investment tools. As the market environment changes and technology advances, discussions on such topics are expected to continue in the future.