Microsoft Shareholders Begin Voting on $3 Trillion Bitcoin Investment Despite Opposition

Oct 30, 2024, 01:27 PM

Microsoft shareholders have begun voting on whether the company should invest in Bitcoin for its $3 trillion corporate treasury. The proposal, driven by concerns over rampant inflation in the USD, is significant given Microsoft's substantial cash reserves and the potential influence of its second-largest shareholder, BlackRock. BlackRock's significant stake in Microsoft could sway the decision, especially as it offers its clients a Bitcoin ETF. The outcome of this vote, which Microsoft has asked shareholders to vote against according to an SEC filing, could set a precedent for other major tech companies, such as Apple, Amazon, Google, Meta, and Nvidia, which collectively hold $377 billion in cash.