Microsoft Shareholders to Vote on Proposal to Invest 1% of Assets in Bitcoin; Board Opposes

Oct 24, 2024, 09:53 PM

Microsoft has disclosed in its latest SEC filing that an 'Assessment of Investing in Bitcoin' has been proposed by the National Center for Public Policy Research as a voting item at the company's annual shareholder meeting on December 10, 2024. The proposal calls for Microsoft to evaluate investing at least 1% of its total assets into Bitcoin, positioning it as a potential corporate treasury asset and 'the best inflation hedge.' However, the board of directors recommends that shareholders vote against the proposal, stating that Microsoft already carefully considers this topic. Microsoft holds approximately $75.5 billion in cash, and the inclusion of this proposal reflects the growing interest in cryptocurrency among institutional investors.