The post Microsoft Shareholders Vote Against Bitcoin Investment Proposal appeared first on Coinpedia Fintech News Microsoft’s shareholder vote on the Bitcoin investment proposal has finally concluded, with prediction market traders expecting slim chances that it will pass. In the latest development, Microsoft shareholders have voted against the Bitcoin investment proposal. Importantly, Microsoft’s board of directors had recommended the shareholders vote against the proposal, initiated by the National Center for Public Policy Research (NCPPR), which advocates Bitcoin as a hedge against inflation. The board had stated that the company had already evaluated a wide range of investment options, including Bitcoin, as part of its financial strategy. JUST IN: Microsoft $MSFT shareholders vote against initial Bitcoin $BTC investment proposal. pic.twitter.com/5j3TcJ1qJM — LuxAlgo (@LuxAlgo) December 10, 2024 Notably, a vote in favor of Bitcoin would have signaled shareholder optimism for more direct investments and confidence in Bitcoin. With this move, Microsoft would have joined the league of other tech firms, such as MicroStrategy and Tesla which have already made substantial investments in Bitcoin. Currently, MicroStrategy holds the largest corporate Bitcoin portfolio, with 402,000 coins valued at approximately $40 billion, representing a little less than 2% of the total Bitcoin supply. Also, the result is in line with the stance of Microsoft co-founder Bill Gates, who has been critical of cryptocurrencies. Gates has expressed concerns over crypto’s speculative nature and potential risks. Notably, Around 70% of Microsoft shares are held by institutional investors, with Vanguard Group, BlackRock, and State Street taking the major stakes. Microsoft is currently focusing more on artificial intelligence (AI) than on crypto. The company has made significant investments in AI and machine learning for 2024, aiming to integrate these technologies across its product ecosystem.
