Microsoft Challenges Bitcoin Diversification Investment Proposal
Microsoft Opposes Proposed Bitcoin Diversification Assessment
Microsoft has advised its shareholders to vote against a proposal to consider a Bitcoin Diversification Assessment during the company's annual meeting on December 10. The proposal was made by the National Center for Public Policy Research and was disclosed in a recent filing.
The National Center for Public Policy Research, an organization affiliated with Project 2025, advocates for companies to allocate at least 1% of their assets to Bitcoin. However, Microsoft's statement opposing the proposal was made in response to this suggestion.
The proposal does not seem to have been influenced by Microsoft's previous evaluations involving Bitcoin and other cryptocurrencies. Microsoft has evaluated options involving Bitcoin and other cryptocurrencies, but it has chosen not to make a public assessment.
The tech giant focuses on stability and predictability in its corporate treasury, prioritizing liquidity and operational funding. Microsoft maintains robust processes to manage and diversify its investments, with the aim of benefiting long-term shareholders. The company emphasizes that it already assesses factors like inflation and other macroeconomic risks within its investment strategy.
The National Center for Public Policy Research's proposal does not seem to consider Microsoft's focus on stability, predictability, liquidity, and operational funding. Moreover, the proposal does not mention Microsoft's aim of benefiting long-term shareholders through its robust investment management processes.
The most important institutional shareholders of Microsoft, who could have voted on the Bitcoin diversification proposal at the December 2022 annual meeting, include The Vanguard Group (around 8.4-9%), BlackRock Inc. (about 5-7%), State Street Corporation (around 3.9-4%), Fidelity Management & Research, T. Rowe Price, Geode Capital Management, Morgan Stanley, Capital World Investors, and JPMorgan Chase, collectively holding roughly 30-32% of shares.
The National Center for Public Policy Research's proposal does not seem to address Microsoft's opposition to the Bitcoin Diversification Assessment. The organization suggests that Bitcoin acts as a strong hedge against inflation, but Microsoft has stated that it already assesses such risks within its investment strategy.
The annual meeting where the proposal will be considered is scheduled for December 10. Microsoft shareholders will now decide whether to approve or reject the proposal, following the company's advice to vote against it.
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