The company’s board opposed the resolution, citing Bitcoin’s purported volatility as a negative factor.
Microsoft shareholders voted against a resolution to add Bitcoin (BTC) to the company’s balance sheets during the firm’s annual meeting on Dec. 10.
The National Center for Public Policy Research (NCPPR), a pro-free-market think-tank based in Washington, D.C., had proposed the resolution, framing it as a corporate duty to provide value to shareholders through profit diversification.
The NCPPR submitted a pre-recorded video outlining their proposal, which was played during the shareholder’s meeting. The video, which opened with the line “Microsoft can’t afford to miss the next technology wave, and Bitcoin is that wave,” was replete with charts and figures demonstrating the potential value of holding BTC.
