Microsoft BTC-related shareholder proposal rejected

Microsoft’s board of directors were asked to assess whether holding BTC on the company’s balance sheet would benefit shareholders long-term

article-image

JHVEPhoto/Shutterstock modified by Blockworks

share


This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.


There was a proposal asking Microsoft’s board of directors to assess whether holding bitcoin on the company’s balance sheet would benefit shareholders long-term. 

Shareholders voted against it, the company revealed Tuesday. This wasn’t really a surprise, as the board had pushed for that result, giving the following rationale:

Still, bitcoin bull Michael Saylor got some face time (sort of) with company directors and shareholders via a pre-recorded presentation played at today’s meeting.

Saylor has creatively described bitcoin in many ways over the years — from an “apex property of the human race” to “a city in cyberspace that is 276 blocks wide, 276 blocks high [and] 276 blocks deep” (referencing its supply cap of 21 million).

During the Microsoft presentation, the MicroStrategy founder referred to bitcoin as:

  • “The greatest digital transformation of the 21st century”
  • “A revolutionary advance in capital preservation”
  • “Highest performing uncorrelated asset”
  • “Outperforming Microsoft by 10x annually”
  • “An asset without counterparty risk”  

“It makes a lot more sense to buy bitcoin than to buy your own stock back, or to hold bitcoin rather than holding bonds,” Saylor argued. 

The proposal rejection was not the result many in the crypto industry wanted. But Microsoft claims its management already carefully considers investing in bitcoin. And with more companies adopting BTC as a reserve asset, maybe the tech giant will follow suit another time. 

If nothing else, Saylor got to say his piece to a different audience. 


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Bluefin possibly stands at an inflection point. The token is near an all-time low yet the protocol’s spot volume market share and derivatives exchange usage have been increasing month over month since its November launch. Given its current market position and the upcoming upgrades (for both Bluefin and SUI), there may be upside potential before the increased supply growth in December. However, strong opposition from existing competitors (like Cetus and Suilend), as well as new entrants (like Aftermath), pose key challenges to Bluefin’s medium-term success.

article-image

Top Committee Democrat Sen. Elizabeth Warren in her opening statement accused Atkins of “helping billionaire CEOs like Sam Bankman-Fried”

article-image

Introducing garbled circuits for enhanced privacy and regulatory compliance

article-image

Ross Ulbricht was a freedom maximalist building freedom tech, powered by Bitcoin

article-image

Solana validators can reap benefits including payments, votes and community clout

article-image

Sponsored

WalletConnect is cementing itself as the essential connectivity layer, ensuring wallets remain the entry point for billions of users

article-image

According to a legal filing, Galaxy Digital helped boost the price of LUNA while quietly selling its tokens