Key Points
- Microsoft’s Board of Directors recommended a vote against the proposal, as they’re already considering it.
- Shareholders include BlackRock, Vanguard, Fidelity, and JPMorgan among others.
The National Center for Public Policy Research (NCPR) told Microsoft’s shareholders that it would propose a Bitcoin Diversification Assessment at the company’s upcoming annual meeting scheduled to take place on December 10.
NCPR is a non-partisan, free-market, and independent conservative think tank.
According to files revealed by the US SEC, the vote for Microsoft’s annual meeting is by December 9, at 11:59 PM ET.
Official notes reveal that shareholders have the right to vote on all proposals being presented at the Annual Meeting scheduled for December.
Yesterday, in a Schedule A filing with the US SEC, Microsoft addressed the issues included on the topics to be discussed during the upcoming meeting with the shareholders.
One proposal included NCPR’s suggestion that the tech firm should analyze Bitcoin’s potential as a hedge against inflation and other macroeconomic influences and advises that companies invest at least 1% of the total assets into the cryptocurrency.
The organization called Bitcoin an “excellent, if not the best hedge against inflation.”
Microsoft’s Recommends Voting Against the Proposal
The company’s Board of Directors recommended shareholders of the company vote against the proposal, motivating their advice by saying that Microsoft’s management is already carefully considering the topic, and the assessment is not necessary.
A Microsoft statement that opposes the proposal also revealed that past evaluations of the company already included Bitcoin and other digital assets, and they continue to monitor trends and developments related to crypto to inform future decision-making.
The company highlighted crypto’s volatility as a factor to consider regarding treasury applications that require stable and predictable investments that ensure liquidity and operational funding.
However, in the end, the vote will be cast by Microsoft’s shareholders. Some companies including BlackRock and Fidelity have already invested in Bitcoin, offering the US markets Bitcoin ETFs.
Bitcoin‘s popularity has been growing among companies and institutions, becoming a subject debated by political parties as well, ahead of the US 2024 elections, highlighting the increased interest and widespread adoption.
