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Ruholamin Haqshanas
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Ruholamin Haqshanas
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Michael Saylor, Bitcoin advocate and Chairman of MicroStrategy, has announced plans to deliver a three-minute presentation on Bitcoin investment strategy to Microsoft’s board of directors.
Speaking during a November 19 X Spaces event hosted by VanEck, Saylor confirmed he had been contacted by an activist responsible for the proposal to Microsoft’s board, prompting his agreement to present.
“I’m going to provide a three-minute presentation — that’s all you’re allowed — and I’ll send it to the board of directors,” he stated.
Saylor Offers Private Meeting with Microsoft CEO
Earlier, Saylor had offered to meet privately with Microsoft CEO Satya Nadella to discuss Bitcoin investment, but the offer was declined.
His upcoming presentation coincides with an upcoming shareholder vote on December 10 to decide whether Microsoft should conduct an assessment on investing in Bitcoin.
The proposal, spearheaded by the National Center for Public Policy Research (NCPPR), points to MicroStrategy’s Bitcoin investment success.
The NCPPR emphasized that MicroStrategy’s stock has outperformed Microsoft’s by over 300% this year, despite MicroStrategy conducting only a fraction of Microsoft’s business.
Saylor argued that Microsoft and other cash-rich companies, such as Berkshire Hathaway, Apple, and Google, are missing an opportunity to strengthen shareholder value by not holding Bitcoin.
Highlighting Microsoft’s enterprise value, Saylor claimed that 98.5% is tied to quarterly earnings, while tangible assets contribute only 1.5%.
He proposed that integrating Bitcoin as a tangible asset could stabilize Microsoft’s stock and reduce risk.
“It would be a much more stable stock if half of its enterprise value was based on tangible assets like Bitcoin,” he explained.
Microsoft’s board, however, has already recommended shareholders vote against the proposal, asserting that the company evaluates a wide range of investable assets, including Bitcoin.
Ethan Peck, deputy director of the NCPPR’s Free Enterprise Project, told Cointelegraph that conducting the assessment could place Microsoft in a challenging position should it choose not to invest.
Microsoft’s board comprises 12 members, including Satya Nadella as chairman, alongside executives from The Walt Disney Company, Citigroup, and Wells Fargo.
Major Bitcoin Holders Expand BTC Reserve
Major Bitcoin holders like MicroStrategy and Metaplanet have expanded their Bitcoin holdings.
On Monday, Michael Saylor’s MicroStrategy revealed it has acquired $4.6 billion worth of Bitcoin.
The firm also announced plans to raise an additional $1.75 billion through convertible notes to increase its cryptocurrency holdings.
As of now, MicroStrategy holds 331,200 BTC, purchased at an average price of $88,627.
The current value of its Bitcoin stash places the company in a strong position, boasting an estimated $13.7 billion in unrealized profits.
To fund its Bitcoin acquisitions, MicroStrategy plans to issue senior convertible notes with a 0% interest rate, maturing in December 2029.
Likewise, Metaplanet recently announced plans to raise $11.3 million through a third series of ordinary bonds to support its Bitcoin acquisition.
The ongoing macroeconomic uncertainties, characterized by increasing inflationary pressures and geopolitical tensions, have prompted corporate treasurers to explore the inclusion of Bitcoin as a reserve asset.
Just recently, digital asset prime services platform Abra launched a service designed for corporates seeking to hold cryptocurrencies as reserve assets on their balance sheets.
