Software giant Microsoft won’t be buying Bitcoin just yet, after shareholders voted against a proposal at the tech giant’s annual meeting Tuesday.
Shareholders of Microsoft (NASDAQ: MSFT) voted on the proposal at the annual meeting. Microsoft’s board in October told shareholders that it recommended voting against the item.
A filing with the SEC noted that “Microsoft’s management already carefully considers this topic.”
A number of public companies already buy Bitcoin. The biggest is MicroStrategy, a formerly sleepy software company that first bought the cryptocurrency back in 2020.
MicroStrategy co-founder and Executive Chairman Michael Saylor came up with the idea during the pandemic to get the best return for shareholders.
The company’s stock has since soared, and MicroStrategy is now a “Bitcoin development company” that securitizes the asset—meaning investors can buy shares of the company and get exposure to Bitcoin. MicroStrategy now holds 423,650 virtua
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Author: Mathew Di Salvo
