Microsoft’s board of directors opposed a proposal that would have seen the tech giant explore investing in bitcoin as a means of diversifying its assets. The proposal, which was put forward by a conservative think tank, aimed to assess whether investing in bitcoin was in shareholders’ long-term interests.
Billionaire Michael Saylor, who has invested heavily in bitcoin through his firm MicroStrategy, endorsed the proposal and argued that Microsoft should consider investing in bitcoin to outperform the market. However, Microsoft’s board of directors deemed the proposal unnecessary, citing that the company already considers a variety of investment options.
In a regulatory filing, Microsoft disclosed its opposition to the proposal, stating that its management team “already carefully considers this topic.” The company noted that it evaluates a wide range of investable assets to fund its operations and has included bitcoin among the options considered in past evaluations.
Source: https://www.foxbusiness.com/markets/microsoft-shareholders-vote-against-company-investing-bitcoin