AMBCrypto - 11/20/2024 11:08:45 AM - GMT (+0 )
- Michael Saylor set to make a brief, three-minute case for Bitcoin investment to Microsoft’s directors.
- Microsoft will have a meeting on the 10th of December to address Bitcoin as an inflation hedge.
Microsoft’s upcoming shareholder meeting on the 10th of December is set to address significant topics, including a proposal to consider Bitcoin [BTC] as a hedge against inflation and economic uncertainty.
Michael Saylor to pitch Bitcoin to MicrosoftIn a surprising twist, a recent SEC filing revealed that MicroStrategy Chairman Michael Saylor is scheduled to present his case for Bitcoin investment to Microsoft’s board in a brief three-minute session.
For those unaware, Microsoft’s 12-member board, chaired by CEO Satya Nadella, includes top executives from firms like Disney, Citigroup, Wells Fargo, and GSK.
Remarking on the same in an X Spaces hosted by VanEck on the 19th of November, Saylor said,
Michael Saylor’s Bitcoin strategy“The activist that put that proposal together contacted me to present to the board, and I agreed to provide a three-minute presentation — that’s all you’re allowed — and I’m going to present it to the board of directors.”
Saylor, a well-known advocate for Bitcoin, has consistently demonstrated his commitment to the cryptocurrency, both personally and through his company.
Saylor himself holds at least 17,732 BTC, with an estimated value nearing $1 billion.
Meanwhile, his firm, MicroStrategy has invested heavily in Bitcoin, accumulating $4.6 billion worth to date.
Reinforcing its dedication to Bitcoin, the company recently acquired an additional 51,780 BTC between the 11th and the 17th of November, as disclosed in a recent SEC filing.
What’s more?That being said, Saylor expressed his intention to advocate for BTC adoption at Microsoft’s corporate level, following the rejection of his request for a private discussion with CEO Satya Nadella.
This effort is supported by the National Center for Public Policy Research (NCPPR), which highlighted that MicroStrategy’s Bitcoin-focused investment approach has significantly outperformed Microsoft’s stock this year.
This delivered over 300% higher returns, despite MicroStrategy operating at a smaller scale.
Remarking on which, Saylor said,
“I think it’s not a bad idea to put it on the agenda of every company. It ought to be put on the agenda of Berkshire Hathaway and Apple and Google and Meta because they all have huge hordes of cash, and they’re all burning shareholder value.”
Saylor emphasized that only 1.5% of Microsoft’s enterprise value stems from its tangible assets, while the remaining 98.5% is tied to its quarterly earnings.
He added,
Market trends“It would be a lot more stable stock and a much less risky stock if half of the enterprise value of the stock was based upon tangible assets or property like Bitcoin. So I think there’s a great argument to be made. I think shareholders should make it.”
Meanwhile, Bitcoin experienced a 0.92% increase in the past 24 hours, reaching a value of $92,461.02 at the time of reporting.
Simultaneously, MicroStrategy’s stock MSTR saw a notable surge, climbing 11.89% to trade at $430.54 as per Google Finance.
This volatility highlights how cryptocurrency performance impacts the market outlook of companies invested in digital assets.
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