Overview

Less than 1% of Microsoft shareholders participated in a vote regarding a proposal to include Bitcoin (BTC) in the company’s asset management.

Key Points

• The Securities and Exchange Commission filing revealed that only 0.55% of shareholders supported the inclusion of Bitcoin on Microsoft’s balance sheet.
• The proposal was put forth by the National Center for Public Policy Research, advocating for the allocation of 1% of total assets to Bitcoin as a hedge against inflation.

Details

The shareholder vote took place on November 10. Despite high hopes promoted by Michael Saylor, Microsoft’s board voiced opposition to the proposal, citing concerns over Bitcoin’s volatility and the favoring of more stable investments.

The proposal was met with skepticism on prediction markets, estimating only a 12-16% likelihood of approval by shareholders. Other attempts to direct Microsoft on topics related to AI and weapon development also failed to gain traction.

For more details, read the original article on CoinDesk.