In just over a week, shareholders of tech giant Microsoft will vote on the proposal to invest in Bitcoin (BTC). And Michael Saylor, perhaps the world’s biggest Bitcoin bull, tried to convince Microsoft’s board with a three-minute pitch. With his MicroStrategy, he of course knows better than anyone what it is like to invest in the digital currency as a company.
Michael Saylor pitches Bitcoin to Microsoft board
At the end of October you could read in the Bitcoin news that Microsoft could easily become the next major company that uses Bitcoin as a savings tool. Released documents showed that shareholders will vote on December 10 whether the company should launch an investigation into investing in Bitcoin.
The proposal was made by the National Center for Public Policy Research (NCPPR), which drew inspiration from MicroStrategy. The American think tank and Microsoft shareholder indicated that MicroStrategy, the world’s largest publicly traded Bitcoin holder, outperformed Microsoft by 300% this year.
In a pitch, Saylor told the board and CEO Satya Nadella that Microsoft could add nearly $5 trillion to its market cap if it went all-in on Bitcoin like MicroStrategy. He assumes a Bitcoin price of $1.7 million by the end of 2034.
“Microsoft cannot afford to miss the next wave of technology, and Bitcoin is that wave,” Saylor said to open his pitch in a video shared on December 1. In it, he urged Microsoft to convert its cash flows, dividend payments, share buyback programs and debt into the cryptocurrency. He added:
“If you do that, you add hundreds of dollars to the stock price. You can create trillions of dollars in enterprise value. You can remove risk from your shareholders.”
But given Microsoft’s previous advice to shareholders to vote against it, it seems somewhat optimistic that Saylor could change their opinion in three minutes.
MicroStrategy excels thanks to BTC strategy
But perhaps they have taken a second look at MicroStrategy’s success since they started believing in Bitcoin. In fact, since 2020, when the company started accumulating Bitcoin, its share price has already increased by more than 4,000%. This year, with an increase of 465%, it is even one of the best performing shares on the American stock market.
Currently, the company has a total of 386,700 Bitcoins on its balance sheet with a current value of over $37 billion. Much of the digital treasury has been acquired with borrowed money, causing the share price to act as a kind of leverage on Bitcoin.
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Source: https://newsbit.nl/michael-saylor-bitcoin-kan-microsoft-5-biljoen-aan-waarde-opleveren/
