In summary
- Michael Saylor will present a strategy on Bitcoin as a treasury asset to the Microsoft board.
- Saylor has previously criticized corporations for losing value by not investing reserves in Bitcoin.
- Microsoft’s board recommended refusing to formally evaluate Bitcoin as an investment.
Michael Saylor, co-founder and CEO of MicroStrategy, will present a Bitcoin investment strategy to Microsoft’s board of directors, advocating for the world’s largest Cryptocurrency as a treasury asset.
In a Twitter Space discussion on November 19 hosted by Bitcoin ETF issuer VanEck, the Bitcoin maximalist announced that he has agreed to deliver a concise three-minute presentation to Microsoft leadership.
The move comes amid a shareholder proposal that calls on Microsoft to evaluate Bitcoin’s potential impact on its balance sheet.
“The activist who put together that proposal contacted me to present it to the council, and I agreed to provide a 3-minute presentation,” Saylor said. “That is all that is allowed, and I will present it to the board of directors”
Saylor, a strong Bitcoin advocate, criticized corporations with large cash reserves for “burning shareholder value” during yesterday’s Twitter discussion.
In his opinion, Bitcoin can bring great stability to business value. “It would be a much more stable and much less risky stock if half the enterprise value of the stock was based on tangible assets or property like Bitcoin,” he said.
Saylor, who has led MicroStrategy to become the largest corporate holder of Bitcoin with 252,220 BTC valued at $16.8 billion, believes Bitcoin is a necessary asset for companies with large cash reserves.
During the discussion, he shared that his previous request for a private meeting with Microsoft CEO Satya Nadella to discuss the issue has not yet been accepted.
In October, Saylor addressed Microsoft CEO Satya Nadella directly on Twitter, saying, “If you want to make the next $1 trillion for $MSFT shareholders, call me.”
Microsoft shareholders are scheduled to vote on whether the company should conduct a formal evaluation of Bitcoin as an investment on December 10.
The National Center for Public Policy Research (NCPPR) put forward the proposal last month, citing MicroStrategy’s success with Bitcoin. MicroStrategy shares have outperformed Microsoft by 313% this year, even though the company operates on a much smaller scale.
“MicroStrategy, like Microsoft, is a technology company, but unlike Microsoft, it has Bitcoin on its balance sheet,” the NCPPR noted in the proposal.
Despite shareholder push and Saylor’s advocacy, Microsoft’s board of directors has recommended voting against the proposal.
Microsoft maintains that it is already evaluating a wide range of investment options, including Bitcoin. The company’s share price traded relatively modestly on Wednesday, rising 0.49% to $417.79, according to data from Google Finance.
Edited by Stacy Elliott.
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