🌀Microsoft shareholders voted against a proposal to invest 1% of the company’s assets in Bitcoin. The initiative, suggested by the National Center for Public Policy Research, aimed to use Bitcoin as a hedge against inflation. Despite holding $78.4 billion in cash and liquid assets, the board of directors recommended rejecting the idea, citing cryptocurrency volatility.
🌀Michael Saylor, CEO of MicroStrategy, attempted to sway shareholders by highlighting his company’s success and pointing out Microsoft’s $200 billion loss from dividend payments and share buybacks.
🌀Nonetheless, the corporation chose to stick to stable investments. MSFT shares remained steady, while Bitcoin dropped 4% to $95,700.