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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.
JUST IN: Microsoft $MSFT shareholders vote against initial Bitcoin $BTC investment proposal. pic.twitter.com/5j3TcJ1qJM
— LuxAlgo (@LuxAlgo) December 10, 2024
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.
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.