Microsoft Shareholders Reject Proposal to Invest in Bitcoin, Company Doesn’t Completely Rule It Out
Microsoft shareholders recently had the opportunity to vote on a proposal suggesting the company consider investing in Bitcoin, but the proposal was ultimately rejected. However, this doesn’t mean that Microsoft is completely closed off to the idea.
During the virtual annual meeting, Microsoft’s chief financial officer, Amy Hood, explained that the board recommended voting against the proposal because the management team at Microsoft already carefully considers the topic of Bitcoin. In fact, Microsoft has been accepting Bitcoin as a form of payment from customers since 2014.
Hood emphasized that Microsoft’s treasury team, along with its board, evaluates all asset classes available to them, including cryptocurrency. With $78.5 billion in cash, equivalents, and short-term investments on hand as of September 30, 2024, Microsoft is focused on maintaining liquidity, capital preservation, and income to support various operations and investments.
While all six outside proposals were rejected by Microsoft shareholders, the Bitcoin proposal specifically highlighted the potential benefits of diversifying the company’s balance sheet with assets that could appreciate more than traditional investments like bonds. The proposal was submitted by the National Center for Public Policy Research and was presented by billionaire Bitcoin investor Michael Saylor.
Although the proposal did not pass, Microsoft remains open to considering different investment opportunities, including cryptocurrency, as part of its long-term strategy. Detailed results from the meeting are expected to be released within the next few days, providing further insight into shareholder decisions.
