Microsoft (MSFT) doesn’t appear to be adding its name anytime soon to the list of corporate entities holding bitcoin (BTC) after its shareholders voted against a proposal that would have directed the board of directors to study such a move.

Titled “Assessment of Investing in Bitcoin,” the proposal was put forward by the National Center for Public Policy Research. The think tank group suggested that Microsoft should consider diversifying 1% of its total assets into bitcoin as a potential hedge against inflation. According to the latest data by Bloomberg, Microsoft holds $78.4 billion of cash and marketable securities on its balance sheet.

The board last month had urged shareholders to vote against the proposal.

The preliminary vote result was announced minutes ago at the

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Author: James Van Straten, Helene Braun