The post Microsoft Shareholders Opt Against Bitcoin Investment Proposal appeared on BitcoinEthereumNews.com.

The shareholders reportedly rejected the proposal due to concerns over volatility and its confidence in existing financial processes. Meanwhile, Ray Dalio recently backed Bitcoin and gold as hedges against a looming debt crisis, and Eric Trump predicted that Bitcoin could reach $1 million. Bitcoin mining firm MARA Holdings expanded its Bitcoin holdings to 40,435 BTC, valued at $3.92 billion, and achieved a record-breaking 50 EH/s hashrate. Microsoft Sticks to Traditional Treasury Strategy Over Bitcoin Microsoft shareholders rejected a proposal to add Bitcoin (BTC) to the company’s balance sheet during the annual shareholder meeting on Dec. 10. The resolution was put forth by the National Center for Public Policy Research (NCPPR), a pro-free-market think tank, and argued that adopting Bitcoin would diversify profits and enhance shareholder value.  The proposal suggested allocating 1% to 5% of Microsoft’s profits to Bitcoin investments and pointed out the potential of Bitcoin as a transformative financial asset. The proposal also claimed it could create trillions in value while mitigating risks for shareholders. During the meeting, NCPPR presented a pre-recorded video supporting its proposal. The video shed some light on Bitcoin’s growing institutional adoption, and mentioned BlackRock’s Bitcoin ETF and MicroStrategy’s Bitcoin strategy as examples. The think tank described Bitcoin as volatile but maintained that ignoring it could jeopardize shareholder interests.  Bitcoin advocate Michael Saylor also addressed Microsoft’s board, and shared that Bitcoin could add close to $5 trillion to the company’s market cap. Despite these arguments, Microsoft’s board dismissed the proposal as unnecessary due to its existing robust processes for managing corporate treasury to ensure stability and predictability. In its filing with the U.S. Securities and Exchange Commission (SEC), the board specifically referred to the risks associated with Bitcoin’s volatility and shared that it is very confident in the company’s current strategies for long-term shareholder benefit. The…

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Filed under: News - @ December 11, 2024 6:15 am