At the Microsoft shareholders' meeting on December 10, a proposal regarding 'whether to invest in Bitcoin' was voted down by shareholders, and now more details have emerged. According to the latest filings Microsoft submitted to the U.S. Securities and Exchange Commission (SEC), only 0.55% of shareholders voted in favor of this proposal, virtually declaring it a failure without any suspense.
This proposal was put forward by the National Center for Public Policy Research in the United States, suggesting that Microsoft allocate 1% of its total assets to Bitcoin as a potential hedge against inflation. However, the Microsoft board expressed a clear opposition to this, believing that the price volatility of Bitcoin is too high and contradicts the company's pursuit of a stable investment strategy.
Although well-known Bitcoin bull, MicroStrategy founder Michael Saylor, tried to persuade Microsoft to change its position by citing the company's 'substantial returns from investing in Bitcoin' as an example, he ultimately failed to sway the board.
The Microsoft board mentioned that the company has already seen a capital outflow of $200 billion from past dividends and stock buybacks, and does not believe that Bitcoin is suitable for further diversifying investment risks.
Aside from the Bitcoin proposal, the shareholders' meeting also voted on several proposals, including a request for Microsoft to release a report on the risks of artificial intelligence (AI) and misinformation, as well as a proposal to examine the potential risks of the company's involvement in military technology research and development. However, these issues also failed to gain enough support and were rejected.
Before the voting results were announced, the market was already pessimistic about Microsoft's likelihood of adopting Bitcoin as a corporate asset. The decentralized prediction platform Polymarket showed that bettors believed the probability of the proposal passing was only 12% to 16%, indicating that the market had almost no expectations for this.
"The 'Microsoft Bitcoin Investment' proposal has failed! Details revealed: the support rate was actually less than 1%" This article was first published on (Blocker).
