Microsoft plans to evaluate a proposal to invest in Bitcoin at its annual meeting in December. Shareholders including Vanguard, BlackRock, and State Street will participate in the vote. However, the Microsoft board of directors opposes this vote, deeming it unnecessary, stating that management has carefully considered the matter. The board emphasizes that volatility is a key factor in assessing cryptocurrency investments and indicates that the company has established robust financial management processes to safeguard shareholder interests. The CEO of MicroStrategy suggests that the Microsoft CEO contact him for investment advice
"Coin Circle" is about to welcome another major player? A recent document disclosed by the U.S. Securities and Exchange Commission (SEC) indicates that the tech giant Microsoft, with a market value exceeding $3 trillion, is considering entering the Bitcoin arena.
On October 26th, according to Yahoo News, Microsoft plans to vote on the proposal to "evaluate investing in Bitcoin" at its annual meeting in December. This proposal was put forward by the conservative think tank National Center for Public Policy Research, related to the "2025 Plan," citing that "Bitcoin is an excellent tool to combat inflation." Shareholders including Vanguard, BlackRock, and State Street will be eligible to vote on this proposal in December.
However, the Microsoft board of directors expressed opposition to the potential vote in December, deeming it "unnecessary," as the company's management has "carefully considered" this controversial move. The board stated:
"Past evaluations have listed Bitcoin and other cryptocurrencies as one of the options under consideration. Microsoft will continue to monitor trends and developments related to cryptocurrencies to guide future decisions."
The company also emphasized that volatility is a factor to consider when evaluating cryptocurrency investments, especially in enterprise financial applications requiring stable and predictable investments to ensure liquidity and operational funds. Currently, Microsoft has established robust and appropriate processes to manage and diversify its corporate finances to achieve long-term shareholder interests, making the demand for public evaluation unreasonable.
On Friday, Michael Saylor, the CEO of the largest Bitcoin holder MicroStrategy, suggested that Microsoft CEO Satya Nadella reach out to him for advice on potential investments:
"If you want to earn the next trillion dollars for (Microsoft's) shareholders, give me a call."