Microsoft shareholders slap down a proposal to buy bitcoin, bucking an emerging corporate trend
The tech giant’s shareholders decided against following in the footsteps of MicroStrategy, Tesla, and MARA as bitcoin sits near a record high.
Microsoft shareholders aren’t jumping on the bitcoin bandwagon.
On Tuesday, the company’s shareholders followed the Microsoft board’s recommendation and voted against a proposal to explore adding bitcoin to the tech giant’s balance sheet. If passed, the measure could’ve brought Microsoft into the company of MicroStrategy, Tesla, and MARA Holdings — all of which have purchased bitcoin.
According to the National Center for Public Policy Research, the self-described conservative think tank that proposed the bitcoin shareholder resolution, MicroStrategy Executive Chair (and bitcoin cheerleader) Michael Saylor was scheduled to present today’s proposal.
“MicroStrategy — which, like Microsoft, is a technology company, but unlike Microsoft holds Bitcoin on its balance sheet — has had its stock outperform Microsoft stock this year by 313% despite doing only a fraction of the business that Microsoft has,” the proposal read in part.
MicroStrategy’s secret ingredient — at least as suggested by the folks at the National Center for Public Policy Research — was its bitcoin buying.
