Prediction markets doubted the motion’s chances of success, and their skepticism proved correct.
Only 0.55% of Microsoft (MSFT) shareholders voted in favor of a proposal to allocate bitcoin (BTC) to the company’s balance sheet, according to a recent filing with the Securities and Exchange Commission (SEC).
The proposal, brought forward by the National Center for Public Policy Research, suggested that Microsoft invest 1% of its total assets in bitcoin as a hedge against inflation. The vote took place on November 10, but the company’s board firmly opposed the idea, citing bitcoin’s volatility and emphasizing a preference for stable investments. This stance remained unchanged despite Michael Saylor’s advocacy for Bitcoin, pointing to MicroStrategy’s success and noting Microsoft’s substantial $200 billion capital outflow from dividends and share buybacks.
Other shareholder proposals faced a similar fate. Motions to produce reports on AI’s role in misinformation and disinformation, as well as risks associated with weapons development, also failed to gain sufficient support.
Prediction markets reflected a lack of confidence in the bitcoin proposal’s prospects. On Polymarket, bettors estimated only a 12-16% chance of the motion being approved, aligning with the final outcome.
