The head of MicroStrategy urged Microsoft to adopt bitcoin as a reserve asset
GetBlock Magazine - What happened? Founder and chairman of the analytics software developer MicroStrategy, Michael Saylor, addressed the board of directors of Microsoft (NASDAQ:MSFT) and its CEO Satya Nadella with a presentation on the importance of adopting bitcoin. In his three-minute speech, Saylor called bitcoin the best asset a company can own. "Microsoft cannot afford to miss the next technological wave, and bitcoin is that wave," the entrepreneur emphasized.
Source: X.com
What else is known? Saylor believes that Microsoft should buy and hold bitcoin instead of repurchasing its own shares or holding bonds.
"Over the last five years, you have lost hundreds of billions of dollars in capital and only increased the risks facing your own shareholders. If you want to break out of this vicious cycle, you need an asset with no counterparty risk," Saylor told the Microsoft board of directors.
He claims that Microsoft could increase its stock price by $584 per share and boost the company's value by $4.9 trillion by 2034 if it converts its cash flows, dividends, share buybacks, and debts into bitcoin.
The stock price of Microsoft (MSFT) at the close on Nasdaq on November 30 was $423.46, up 0.11% for the day. Year-to-date growth was 13.27%.