On October 24, Microsoft filed a document with the US Securities and Exchange Commission (SEC), revealing a surprise in its annual shareholder meeting agenda on December 10.
In addition to routine items like board member elections, approval of independent auditors, and reporting on artificial intelligence (AI) misinformation issues, one proposal stood out: “Bitcoin Investment Review.” Notably, Microsoft’s board of directors recommended that shareholders vote against the proposal.
As of its second-quarter 2024 financial report, Microsoft had $76 billion in cash and equivalents. If shareholders pushed the company to allocate 10% of that cash to Bitcoin (BTC), the investment would be worth $7.6 billion.
Top Bitcoin Holders | Source: River
At an average price of around $70,000 per Bitcoin, this would equate to more than 104,000 BTC – eleven times more than Tesla’s Bitcoin holdings (9,720 BTC), but still significantly less than MicroStrategy’s massive investment strategy, which currently holds 252,220 BTC. However, with Bitcoin’s supply dwindling – more than 80% of BTC haven’t been traded in over six months and BTC balances on exchanges at their lowest in over four years – a major investment from Microsoft could cause a supply shock.
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