Microsoft shareholders voted towards Michael Saylor’s proposal to spend money on Bitcoin to diversify its portfolio.
The shareholder vote passed off on Tuesday, December 12, and the vast majority of the MSFT shareholders voted towards the proposal.
Microsoft Received’t be Investing in Bitcoin
Michale Saylor ready a 3-minute presentation on December 1, urging the Microsoft board so as to add Bitcoin to its portfolio. The MicroStrategy CEO mentioned Bitcoin is the seventh largest asset on this planet, and its market cap will quickly attain $2 trillion.
Lower than every week after Saylor’s proposal, Bitcoin soared to its $100,000 milestone and, as Saylor had predicted, achieved over a $2 trillion market cap. He additionally projected Bitcoin’s reaching a $200+ trillion market cap by 2045.
Nevertheless, these proposals weren’t sufficient to influence Microsoft’s shareholders. As BeInCrypto reported earlier, the corporate’s board cautioned shareholders towards this proposal, saying that it might add “unnecessary” dangers.
In the meantime, Microsoft’s inventory market competitor, Amazon, is taking a unique strategy. Yesterday, Amazon’s stakeholders proposed allocating $88 billion of its money reserves to spend money on Bitcoin.
This contrasting strategy highlights the differing methods main companies are adopting concerning cryptocurrency as an funding asset.
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