Will Microsoft Buy Bitcoin After Michael Saylors 3-Minute BTC Strategy Pitch To Board?
Bitcoin uber-bull and MicroStrategy Executive Chairman Michael Saylor revealed that he agreed to present a Bitcoin investment strategy to Microsofts board of directors, advocating for the premier crypto as a treasury asset.
Saylor sees a potential Microsoft Bitcoin investment as a game-changer for the tech giant, especially as Bitcoin inches closer to the highly coveted $100,000 zone.
Can Michael Saylor Win Over Microsoft Board?
Speaking during a Tuesday X space discussion hosted by crypto ETF provider VanEck, Michael Saylor said he will be delivering a brief, three-minute presentation to Microsofts board.
Saylors pitch comes amid a shareholder proposal calling for Microsoft to evaluate the potential impact of a Bitcoin investment.
The activist that put that proposal together contacted me to present to the board, and I agreed to provide a three-minute presentation thats all youre allowed and Im going to present it to the board of directors, Saylor said.
The MicroStrategy founder, who is a devout Bitcoin evangelist, slammed companies with huge cash reserves for burning shareholder value, during yesterdays discussion. Saylor, who has led MicroStrategy to become the worlds biggest corporate Bitcoin holder with 331,200 BTC (worth $31 billion based on todays price), believes Bitcoin is a vital asset for corporations with huge hordes of cash.
According to him, the benchmark crypto can add significant stability to enterprise value. It would be a lot more stable stock and a much less risky if half of the enterprise value of the stock was based upon tangible assets or property like Bitcoin, he explained.
Saylor has publicly urged Microsoft to consider adding Bitcoin to its treasury. He thinks it can make the next trillion dollars for Microsoft shareholders.
Meanwhile, Microsoft shareholders are scheduled to vote on Dec. 10 on whether the company should conduct a formal assessment of Bitcoin as an investment. Some prominent shareholders include major financial institutions like Vanguard Group, BlackRock, State Street, and Fidelity Management & Research.
Despite the push from shareholders and Saylors advocacy, Microsofts board has recommended voting against the proposal, stating that they already assessed a wide range of investable assets, including Bitcoin.
As of publication time, Bitcoin had traded for $94,218, reflecting a 1.8 percent gain on the day. Its market cap stood at $1.86 trillion.
Text source: ZyCrypto
