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Microsoft Shareholders Reject Proposal to Invest 1% of $78.4B Cash in Bitcoin at Annual Meeting

Dec 10, 2024, 05:08 PM

Microsoft shareholders have voted against a proposal to invest in Bitcoin by adding it to the company's balance sheet. The proposal suggested allocating 1% of Microsoft's $78.4 billion in cash holdings into Bitcoin. The initiative, introduced by the National Center for Public Policy Research, was supported by MicroStrategy Executive Chairman Michael Saylor, who advocated for the move. The negative vote was expected and aligned with the board's recommendation. Despite Bitcoin's ongoing momentum in the financial world, Microsoft shareholders rejected the proposal during the company's annual meeting on December 10, 2024.