The post Microsoft Shareholders Say No to Bitcoin Treasury Allocation appeared on BitcoinEthereumNews.com.

According to multiple sources, Microsoft shareholders voted against a proposal to allocate 1% of the company’s treasury of Bitcoin during its annual meeting, according to preliminary results. 🚨 Microsoft has rejected the proposal to add $BTC to their balance sheet. — Satoshi Stacker (@StackerSatoshi) December 10, 2024 The proposal introduced by the National Center for Public Policy Research (NCPPR), sought to invest approximately $800 million in BTC, based on the company’s total cash equivalent and short-term investments for Q3 2024. The board of directors had recommended opposing the measure on October 24, citing prior evaluations of alternative assets, including Bitcoin and other cryptocurrencies. While rejecting the proposal, the board highlighted its commitment to staying informed about developments in the digital asset space.  Michael Saylor Endorses Bitcoin Reserve On December 1, MicroStrategy executive chairman Michael Saylor made a case for Bitcoin during a three-minute presentation to Microsoft’s board of directors. Saylor advocated for Bitcoin as a cornerstone of future technological innovation, warning that not adopting BTC could leave Microsoft at a competitive disadvantage. Saylor also projected that integrating Bitcoin could propel Microsoft to a $5 trillion market capitalization by 2034.  The NCPPR has also introduced a similar Bitcoin proposal to Amazon, recommending a 5% allocation of its $88 billion in cash and short-term assets, which is equivalent to $4.5 billion. Also Read: Bitcoin Will Have $280T Marketcap by 2045: Michael Saylor Source: https://www.cryptonewsz.com/microsoft-say-no-bitcoin-treasury-allocation/

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Filed under: News - @ December 10, 2024 10:23 pm