Breaking: Microsoft Shareholders Vote Against Bitcoin Proposal

Microsoft shareholders have voted against the Bitcoin proposal to allocate some of the company’s cash reserves to the flagship crypto. This undoubtedly presents a huge blow to Bitcoin’s adoption among big US corporations.

Preliminary votes have shown that Microsoft shareholders voted against the Bitcoin investment proposal. If passed, the proposal would have allowed the top US company to diversify some of its assets to Bitcoin and hold the flagship crypto on its balance sheet.

With this development, the company will unlikely adopt Bitcoin anytime soon. Bitcoin advocate Michael Saylor had pitched to these shareholders why they should vote for the company to hold Bitcoin on its balance sheet.

However, Saylor’s pitch wasn’t enough to convince these shareholders considering the results of the vote. While Microsoft opts against buying Bitcoin, other companies like MicroStrategy are actively accumulating the flagship crypto. Saylor’s company recently bought 21,550 BTC for $2.1 billion.

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