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We already know MicroStrategy loves bitcoin. How about Microsoft?
To catch you up, a Thursday filing showed a proposal the National Center for Public Policy Research intends to submit for consideration at Microsoftâs annual meeting.
It notes a corporationâs âfiduciary dutyâ to maximize shareholder value by protecting profits from debasement in an inflationary world. The proposal calls on Microsoft â with $484 billion in assets, as of March 31 â to consider diversifying its balance sheet with assets beyond the US government securities and corporate bonds it currently holds. Namely, bitcoin.
BTCâs volatility is acknowledged. Still, the proposal notes âcompanies should evaluate the benefits of holding some, even just 1%, of its assets in bitcoin.âÂ
The proposal shouts out the similarly named MicroStrategy, which held 252,220 BTC as of last month. MicroStrategyâs stock is up 249% this year, while Microsoftâs is up 16%.
MicroStrategy founder Michael Saylor also had a message for Microsoft CEO Satya Nadella:
It doesnât appear this proposal will pass.Â
In a statement of opposition, Microsoftâs Board of Directors said that âvolatility is a factor to consider in evaluating cryptocurrency investments for corporate treasury applications that require stable and predictable investments to ensure liquidity and operational funding.â
The company already has âstrong and appropriate processes in placeâ for its corporate treasury, the board adds â noting: âThis requested public assessment is unwarranted.â
Perhaps the takeaway, though, is that the board notes it has evaluated bitcoin and other cryptocurrencies in the past, and that Microsoft âcontinues to monitor trends and developments related to cryptocurrencies to inform future decision-making.âÂ
So the companyâs not closing the door on BTC altogether. Iâd say we can add that to the list of positive developments made during a year in which the asset has gone more mainstream.
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