Michael Saylor to Pitch Bitcoin Investment to Microsoft's Board Amid Shareholder Pressure
November 20, 2024MicroStrategy Chairman Michael Saylor is set to present a compelling case for Bitcoin investment to Microsoft's board of directors.
Despite some shareholder interest, Microsoft's board has recommended voting against the proposal, asserting that they already evaluate a variety of investable assets, including Bitcoin.
Saylor had previously reached out to Nadella to discuss Bitcoin investment but was met with a rejection for a private meeting, leading to his formal presentation.
Ethan Peck from the NCPPR has warned of potential shareholder lawsuits if Microsoft opts not to invest in Bitcoin and its value subsequently increases.
Currently, Microsoft holds $78 billion in cash reserves but has not invested in Bitcoin or cryptocurrency-related products, despite Saylor's claims that Bitcoin could be a superior alternative to cash.
The Microsoft board consists of 12 members, including CEO Satya Nadella and executives from major corporations like The Walt Disney Company and Citigroup.
Notably, MicroStrategy's stock has outperformed Microsoft's by over 300% this year, despite its smaller scale.
Saylor argues that integrating Bitcoin into corporate assets could stabilize Microsoft's stock valuations, which are currently heavily reliant on quarterly earnings rather than tangible assets.
Microsoft shareholders will vote on the Bitcoin investment proposal on December 10, 2024, following its introduction by the National Center for Public Policy Research (NCPPR).
This proposal comes after Saylor's recent engagement in VanEck’s X Spaces on November 19, where he was invited to present the case.
An activist shareholder proposed Saylor's presentation, which is scheduled to last three minutes.
Saylor plans to post his presentation online after delivering it to the board, aiming to influence their decision on this significant investment opportunity.
Summary based on 9 sources
Get a daily email with more Crypto stories
Sources
International Business Times • Nov 20, 2024
MicroStrategy's Saylor To Present Bitcoin Investment Strategy To Microsoft BoardCointelegraph • Nov 20, 2024
Michael Saylor to pitch Microsoft board on Bitcoin buying strategyDecrypt • Nov 20, 2024
Microsoft Buying Bitcoin? Michael Saylor Will Make His Case to the Board