Microsoft shareholders reject Treasury's proposal on Bitcoin
The negative vote was expected, even as MicroStrategy's CEO, Michael Saylor, attempted to persuade Microsoft shareholders otherwise.
Microsoft (MSFT) does not seem likely to add its name in the near future to the list of corporate entities that own bitcoin (BTC) after its shareholders voted against a proposal that would have directed the board of directors to explore such a measure.
Titled "Assessment of Investment in Bitcoin," the proposal was presented by the National Center for Public Policy Research. The think tank suggested that Microsoft should consider diversifying 1% of its total assets into bitcoin as a potential hedge against inflation. According to the latest Bloomberg data, Microsoft has $78.4 billion in cash and marketable securities on its balance sheet.