Michael Saylor, the founder of MicroStrategy and a supporter of Bitcoin, will give a three-minute presentation to the Microsoft board of directors, advocating for the company to consider investing in Bitcoin. During the X Spaces discussion hosted by VanEck on November 19, Saylor confirmed that he will participate in the event.
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Saylor revealed that an activist group invited him to submit this proposal, and although the time was limited, he accepted the opportunity. He stated, "I agreed to do a three-minute presentation, which is the allotted time, and I will present my proposal to the board." Previously, Saylor had sought to have a private meeting with Microsoft CEO Satya Nadella to discuss this matter, but the proposal was rejected. He added, "So you'll see me preparing this three-minute presentation for Microsoft, and then we'll submit it to the board."
Microsoft considers shareholder proposal: Whether to invest in Bitcoin
In October, Microsoft announced that one of the voting items in December would be to evaluate whether the company should invest in Bitcoin. The proposal was initiated by the National Center for Public Policy Research (NCPPR), which referenced MicroStrategy's Bitcoin strategy as a benchmark. NCPPR noted that although MicroStrategy's scale of operations is much smaller than Microsoft's, its stock performance has exceeded Microsoft's by over 300% in 2023. The shareholder vote on this proposal is scheduled for December 10.
MicroStrategy's macro vision: Bitcoin brings corporate stability
Saylor believes that every large company, including Apple, Google, Meta, and Berkshire Hathaway, should consider Bitcoin investment on their agenda. He emphasized that these companies with large cash reserves, if they do not diversify their assets, may harm shareholder value.
According to Saylor's analysis, 98.5% of Microsoft's enterprise value comes from quarterly earnings, with only 1.5% coming from tangible assets. He suggests that Bitcoin can provide a more stable foundation. He explained, "If half of the enterprise value is based on tangible assets or assets like Bitcoin, Microsoft's stock would be more stable and less risky."
Microsoft board's opposition stance is clear
The Microsoft board has recommended voting against the proposal and stated that the company has already evaluated various investable assets, including Bitcoin. Nevertheless, NCPPR believes that this evaluation may force Microsoft to take a clear stance on Bitcoin, which could influence other companies.
Ethan Peck, the deputy director of NCPPR's Free Enterprise Project, pointed out that if Microsoft rejects Bitcoin after the official evaluation, it may put the company in an awkward position.
Who are on the Microsoft board? Key roles in top-level decision-making
The Microsoft board has 12 members, including the Microsoft CEO, and also includes leaders from companies such as Disney, Citigroup, Wells Fargo, and GlaxoSmithKline. Their decision on December 10 may become a benchmark for how major companies incorporate Bitcoin into their asset strategies.
