Michael Saylor intends to speak at the Microsoft Board of Directors on December 10 with a proposal to use the first cryptocurrency as a reserve asset for the company’s treasury.
In anticipation of his speech, Saylor posted a presentation on social media to the Microsoft Board of Directors, where he stated that, in his opinion, it is not reasonable for the company’s treasury to use outdated financial regulatory tools, such as stock buybacks or the accumulation of debt instruments.
“Over the last five years you have given up hundreds of billions of dollars of capital. You have simply increased the risks facing your shareholders. If you want to break out of this vicious cycle, then you need an asset without counterparty risk. Bitcoin is the best asset a company can own. It makes sense for Microsoft to buy and hold bitcoin instead of buying back its own stock or holding bonds,” Saylor wrote.
The head of MicroStrategy added that Bitcoin represents the greatest financial transformation of the 21st century, and Microsoft cannot afford to miss out on the new technological wave.
According to Saylor, he had not previously intended to discuss investment in Bitcoin at the Board of Directors, but he was refused to discuss this topic “confidentially” with Satya Nadella.
At the end of November, it became known that thanks to the bitcoin accumulation strategy, MicroStrategy entered the top 100 largest public companies in the United States by capitalization, rising to 97th place in the ranking.
Source: Bits
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