MicroStrategy Executive Chairman Michael Saylor will present a Bitcoin treasury technique to the Microsoft Board of Directors before December 10. The revelation got here during an X Space organized by investment management firm VanEck, featuring Saylor, Matthew Sigel (Head of Digital Assets Research at VanEck), Jan van Eck (CEO of VanEck), and US Senator Cynthia Lummis.
Can Saylor Persuade Microsoft Of Bitcoin?
Matthew Sigel highlighted the upcoming shareholder vote at Microsoft Corporation (NASDAQ: MSFT) that may compel the board to judge Bitcoin as a treasury asset. He asked Saylor whether shareholder proposals are effective in promoting Bitcoin adoption as a reserve asset or if there are alternative methods to catalyze greater adoption.
Saylor responded by endorsing shareholder activism as a legitimate approach. He revealed that the activists behind the proposal had contacted him to present to the board. “I agreed to offer a three-minute presentation—that’s all you’re allowed,” he said. Saylor intends to post this presentation online and deliver it to the board of directors.
He also disclosed that he offered to satisfy privately with Microsoft CEO Satya Nadella to debate Bitcoin adoption. Nonetheless, this offer was not accepted, prompting Saylor to proceed with the formal presentation to the board.
“I also offered to withdraw that proposal if Satya Nadella would meet me. And I said, I’d fly to wherever he’s and meet him in confidence in his office for an hour to debate, but we were, that provide was not accepted. So you will note me putting together the three minute proposal for Microsoft and, and it’ll get posted and we’ll send it to the board,” Saylor revealed.
Microsoft has scheduled its annual shareholder meeting for December 10, where an “Assessment of Investing in Bitcoin” will probably be on the agenda. In a filing with the US Securities and Exchange Commission (SEC) dated October 24, the corporate included this proposal among the many voting items.
Despite the proposal’s inclusion, Microsoft’s Board of Directors has formally beneficial that shareholders vote against it. In supplementary materials filed with the SEC on October 25, the board stated that the requested assessment is unnecessary because Microsoft’s management already considers Bitcoin inside its broader investment strategy.
“Microsoft’s Global Treasury and Investment Services team evaluates a wide selection of investable assets to fund ongoing operations, including assets expected to offer diversification and inflation protection,” the filing noted.
In the course of the X Space, Saylor advocated for broader corporate adoption of Bitcoin as a treasury asset, not only at Microsoft but across major corporations with substantial money reserves. He suggested that similar proposals needs to be on the agendas of corporations like Berkshire Hathaway, Apple, Google, and Meta. “All of them have huge hordes of money. They’re all burning shareholder value,” he remarked.
He argued that integrating Bitcoin into an organization’s assets may lead to a more stable and fewer dangerous stock. Speaking on Microsoft, Saylor explained: “The approach of Microsoft is 98.5% of the enterprise value is levered to quarterly earnings. And 1.5% of the worth of the stock is tangible assets. And it could be loads more stable stock and a much less dangerous stock if half the enterprise value of the stock was based upon tangible assets or property like Bitcoin.”
At press time, BTC traded at $92,666.
Featured image from YouTube, chart from TradingView.com