The post Microsoft snubs Bitcoin Treasury plan – Michael Saylor offers a helping hand appeared on BitcoinEthereumNews.com.

Microsoft has told shareholders to reject a proposal to hold Bitcoin as part of its treasury assets, saying it’s not an option for the company right now. On October 24, Microsoft filed a statement with the U.S. Securities and Exchange Commission (SEC), detailing a December 10 vote at its shareholder meeting, where it plans to shut down any Bitcoin investment proposal. The proposal came from the National Center for Public Policy Research (NCPPR), urging the tech giant to buy Bitcoin as a hedge against inflation. The NCPPR argued that corporate assets should have at least 1% of holdings in BTC. “Bitcoin has beaten corporate bonds by 94% over the last year and 411% over five years,” the proposal said. The group believes that companies with substantial assets should hold more than government securities or corporate bonds, which have barely kept up with inflation lately. Microsoft, though, told its shareholders the idea doesn’t merit a vote. The company explained that: “Volatility is a factor to consider in evaluating cryptocurrency investments for corporate treasury applications,” adding that such assets demand stability. According to Microsoft, it’s already reviewed Bitcoin and crypto investments and decided that they don’t align with its long-term strategy for liquidity and shareholder value. MicroStrategy’s Michael Saylor weighs in Michael Saylor, CEO of MicroStrategy and a Bitcoin advocate, quickly responded to Microsoft’s position. “Hey, Satya Nadella, if you want to make the next trillion dollars for $MSFT shareholders, call me,” he tweeted, tagging the Microsoft CEO. Saylor, whose company has a massive Bitcoin stash, posted a highlighted screenshot of “Proposal 5” from Microsoft’s filing to back up his call. The highlighted text was pointing out that MicroStrategy has once again outpaced Microsoft’s stock this year, with a 313% lead, despite running at a fraction of Microsoft’s size. He’s not the…

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Filed under: News - @ October 25, 2024 4:28 pm