Microsoft, the world’s largest software company, has rejected the proposal to evaluate the potential benefits of adding Bitcoin (BTC) to its corporate balance sheet, despite meetings and lobbying from Bitcoin advocate Michael Saylor, co-founder of MicroStrategy. 

Saylor, who has transformed MicroStrategy into a major player in the cryptocurrency realm with over $40 billion in BTC holdings, made his case during a recent virtual shareholder meeting.

Saylor’s Bitcoin Push Fails

The proposal, given by Saylor on behalf of the Free Enterprise Project, called for an evaluation of whether diversifying Microsoft’s holdings to include BTC would be in the long-term interests of shareholders.

However, Microsoft’s board has already indicated resistance to the proposal, claiming that it is constantly evaluating cryptocurrencies.

This position was supported by proxy consulting firms such as Glass Lewis and Institutional Shareholder Services, which emphasized the “uncertainty surrounding the potential benefits of cryptocurrency investments.”

The proposal’s rejection comes as the BTC price has skyrocketed, more than doubling in value this year as it has recently reached a new record high of $104,000.

The political context is also contributing to the momentum, with President-elect Donald Trump’s return to office potentially ushering in more crypto-friendly legislation. 

Trump has expressed interest in creating a government Bitcoin stockpile, and pro-crypto Senator Cynthia Lummis has proposed that the US purchase Go to Source to See Full Article
Author: Ronaldo Marquez