PANews, May 13 - Dell has officially rejected a shareholder proposal that called for the incorporation of Bitcoin into the company's treasury. In a response letter dated May 9, Dell stated that proposals that 'delve into complex matters, making it difficult for shareholders to make informed judgments and consequently lead to improper micro-management of the company' could be excluded. The supporting statement of this proposal revealed the proponent's intention to micro-manage the management's discretion in handling the company's cash and investment structure, claiming that Dell should consider replacing part of its cash and bonds with assets like Bitcoin that can outpace inflation. However, staff had previously pointed out that regulating the form of company investments would improperly restrict the management's discretion in ordinary business matters. Whether it is requiring investment in cryptocurrency assets or divesting such assets, the proposal improperly limits the autonomy of management and the board of directors in company governance.
