Donald Trump’s election win in November has sent bitcoin soaring to record highs. On December 5, the price of the cryptocurrency reached above $100,000 for the first time.
One of bitcoin’s main investors is the billionaire Michael Saylorco-founder of the company MicroStrategy.
The company’s business model is solely to invest as much money as possible in the cryptocurrency, something that has recently been a successful strategy. The MicroStrategy share has indeed surged by almost 500 percent on the stock exchange, this year alone.
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Michael Saylor’s call to Microsoft
On Tuesday, the organization National Center for Public Policy Research presented a proposal to Microsoft: invest in bitcoin.
Michael Saylor urged the tech giant’s board to vote yes.
– Microsoft cannot afford to miss the next technology wave, and bitcoin is that wave, Saylor said in one video presentation he posted on X on December 1st.
In the video, he also shows that bitcoin has generated an annual return of 62 percent over the past four years, compared to Microsoft’s 18 percent.
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Microsoft votes no to bitcoin
But when the proposal was presented at Microsoft’s annual general meeting, the answer from the board was no, something among others Fox Business reported on.
Microsoft states that it is closely monitoring bitcoin’s development, but that an investment is not in the cards right now, among other things, due to the volatility associated with the cryptocurrency.
“Volatility is a factor to consider when evaluating investments in cryptocurrencies for corporate coffers. These require stable and predictable investments to ensure liquidity and operational funding,” the company wrote in a statement, according to Fox, adding:
“Microsoft has strong and appropriate processes in place to manage and diversify its corporate treasury for the long-term benefit of shareholders, and this request is unwarranted.”
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