Microsoft urges shareholders to vote against proposal to evaluate Bitcoin as a diversified investment

Microsoft listed the issues to be discussed at the next shareholder meeting in a filing with the U.S. Securities and Exchange Commission on Thursday. One of the proposals suggested that the tech company should study Bitcoin as a hedge against inflation and other macroeconomic impacts. The document shows that the board of directors recommended that shareholders vote against the proposal and said that Microsoft had "carefully considered this issue." The statement said: "Past evaluations have considered Bitcoin and other cryptocurrencies as options, and Microsoft will continue to monitor trends and developments related to cryptocurrencies to inform future decisions. As the proposal itself points out, volatility is a consideration in evaluating cryptocurrency investments, which require stable and predictable investments for corporate financial applications to ensure liquidity and working capital. Microsoft has developed strong and appropriate processes to manage and diversify its corporate finances for the long-term benefit of shareholders, and this requirement for public evaluation is unreasonable." (Coindesk)