Summary:
Michael Saylor to advocate for Bitcoin investment at Microsoft's board meeting
Presentation to be three minutes long and shared online
Satya Nadella declined meeting to discuss Bitcoin strategy
Saylor argues Microsoft stock would be less risky with Bitcoin backing
Upcoming vote on Bitcoin investment proposal at Microsoft shareholders meeting
In a significant development, Michael Saylor, Chairman of MicroStrategy, is set to advocate for Bitcoin (BTC) investment during a presentation to the board of directors at Microsoft Corporation.
What Happened
During an X space hosted by asset manager VanEck, Saylor revealed he was invited by an activist shareholder to make a brief presentation. He stated, "I agreed to provide a three-minute presentation. That's all you're allowed. I'm going to actually post that online and I'm going to present it to the board."
He also expressed a desire to meet with CEO Satya Nadella to discuss potential strategies regarding Bitcoin, although this offer was declined. Saylor emphasized that it should be a priority for major companies like Berkshire Hathaway, Apple, and Google to consider Bitcoin, given their substantial cash reserves and the potential to enhance shareholder value.
Saylor argued that Microsoft stock could become “much less risky” if a significant portion of its enterprise value was backed by tangible assets like Bitcoin, which currently represents just about 1.5% of its value.
Additionally, Saylor has offered to educate Chris Pavloski, CEO of Rumble Inc., about the benefits of incorporating Bitcoin into their Treasury.
Why It Matters
Microsoft is scheduled to vote on a proposal assessing the prospect of investing in Bitcoin at the upcoming shareholder meeting, a request driven by the impressive gains Bitcoin has achieved over the past five years. The proposal specifically mentions MicroStrategy, recognized as a trailblazer in corporate Bitcoin adoption, whose stock has outperformed Microsoft in 2024.
Price Action
As of the latest data, Bitcoin is trading at $92,054.06, reflecting a 0.86% increase in the last 24 hours. Meanwhile, shares of MicroStrategy surged nearly 12% during Tuesday’s trading session, while Microsoft saw a modest 0.49% rise.
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