Catenaa, Wednesday, December 11, 2024 – Microsoft shareholders have voted against a proposal to add Bitcoin to the company’s balance sheet, citing concerns over the cryptocurrency’s volatility and aligning with the board’s recommendation during its annual meeting on Tuesday.
The proposal, brought forward by the National Center for Public Policy Research (NCPPR), argued that diversifying reserves with Bitcoin would enhance shareholder value and position Microsoft to capitalize on emerging technology trends. A video presented during the meeting claimed, “Microsoft can’t afford to miss the next technology wave, and Bitcoin is that wave.”
Despite these arguments, shareholders sided with the board’s cautious approach, which emphasized evaluating a broad range of investment opportunities, including Bitcoin, within its existing strategy.
This decision reflects Microsoft’s historically conservative stance on Bitcoin. The company briefly accepted cryptocurrency as a payment method in 2014 but halted the practice two years later, citing low demand and regulatory uncertainty. Co-founder Bill Gates has also voiced strong skepticism about cryptocurrencies.
The rejection comes amid heightened discussions about Bitcoin adoption in corporate finance. Cryptocurrency markets experienced a 3% pullback over the past 24 hours, with the global market cap declining by 5% to $3.73 trillion, according to CoinGecko data.
