Dell rejects shareholder proposal to add Bitcoin to company coffers

Odaily Planet Daily News Dell formally rejected a shareholder proposal that called for the inclusion of Bitcoin in the company's treasury. In a response letter dated May 9, Dell said that proposals that "deepen into complex matters, prevent shareholders from making wise judgments, and improperly micromanage the company" can be excluded. The support statement for this proposal exposed the proposer's intention to micromanage management's discretion in managing the company's cash and building investment structures. It advocated that Dell should consider replacing some cash and bonds with assets such as Bitcoin that can outperform inflation. But staff have previously pointed out that stipulating the form of corporate investment will improperly restrict management's discretion in ordinary business affairs. Whether it is requiring investment in cryptocurrency assets or divesting such assets, the proposal improperly restricts the autonomy of management and the board of directors in the management of the company.