During Microsoft’s annual shareholder meeting on December 10, a proposal introduced by the National Center for Public Policy Research (NCPPR) to incorporate Bitcoin
The NCPPR’s motion showed urgency, warning that ignoring Bitcoin could result in missed opportunities. Nevertheless, the board maintained its stance, deeming the suggested public assessment unwarranted.
Microsoft showed its confidence in existing treasury management processes, prioritizing stability and long-term financial health over speculative investments.
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In a pre-recorded video presented at the meeting, the NCPPR emphasized Bitcoin’s potential, stating:
Microsoft can’t afford to miss the next technology wave, and Bitcoin is that wave.
The proposal pointed to the growing institutional acceptance of Bitcoin, highlighting Microsoft’s second-largest shareholder, BlackRock, which offers Bitcoin exchange-traded funds (ETFs). Additionally, it cited examples like MicroStrategy, a company known for its Bitcoin investments.
Acknowledging Bitcoin’s volatility, the NCPPR suggested a cautious approach. They recommended that Microsoft allocate 1% to 5% of its profits to Bitcoin acquisition and evaluate whether such a strategy would serve shareholders’ best interests in the long run.
In a formal filing with the US Securities and Exchange Commission (SEC), the board dismissed the resolution as unnecessary, noting that cryptocurrency investments are inherently unstable and unsuitable for corporate treasury functions requiring consistent liquidity.
The board affirmed that Microsoft already employs robust financial strategies to manage its resources and safeguard shareholder interests.
Microsoft’s decision to steer clear of Bitcoin highlights the ongoing debate about cryptocurrency’s role in corporate finance. Meanwhile, other industries are taking a different approach, like Virgin Voyages, which launched a cruise experience fueled by crypto. How is Bitcoin setting sail on the high seas? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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