The crypto community has criticized Microsoft for rejecting Bitcoin, arguing that in five years it will understand its importance as a strategic asset.
Microsoft's Board of Directors has rejected a shareholder proposal that called on the company to consider investing in Bitcoin as a reserve asset. This proposal, backed by Michael Saylor, president of MicroStrategy, was put forward with the aim of diversifying Microsoft's reserves and harnessing the potential of cryptocurrencies. However, in a vote held on Tuesday, December 10, the Board of Directors decided not to follow this path.
The Bitcoin and cryptocurrency community has harshly criticized Microsoft in response to this decision, suggesting that the company will regret it in the future.
Cryptocommunity: “Everyone buys Bitcoin at the price it deserves”
Microsoft’s shareholder proposal was based on the need to diversify the company’s assets to protect against inflation and market fluctuations. Michael Saylor, who has built MicroStrategy into one of the most prominent companies investing in Bitcoin, gave a detailed presentation to demonstrate why the company should consider this cryptocurrency as a reserve asset.
During this presentation, Saylor argued that Bitcoin is a form of stored value that can protect Microsoft against dollar depreciation and other financial risks. He further highlighted that adopting Bitcoin as a reserve asset could position Microsoft as an innovative leader in the tech industry, similar to how it did with its early adoption of cloud computing and artificial intelligence.
However, despite the tangible results Saylor showed in his presentation, Microsoft's board of directors was not convinced, rejecting the proposal in a vote on Tuesday.
Microsoft's decision has sparked a debate in the crypto and technology community about its vision towards cryptocurrencies and blockchain technology.
Following the rejection of the proposal, Bitcoiners were quick to express their discontent. In a post on X, user @Saylorsatsire stated: “Everyone is buying Bitcoin at the price they deserve.”
Likewise, Pete Rizzo, Bitcoin historian and editor of Bitcoin Magazine, called Microsoft’s decision a “historic mistake.”
With these statements, the crypto community suggests that Microsoft has missed a valuable opportunity and that, in the future, the company might regret not having made the decision to invest in Bitcoin now.
Will history repeat itself? Microsoft is making another big strategic mistake
The crypto community also highlighted that the company’s recent decision is comparable to its rejection of the smartphone in its early days, one that later turned out to be a significant strategic mistake for the company.
In the early years of the 21st century, Microsoft underestimated the relevance of smartphones, considering them mere Gadgets niche market with no clear future. This decision proved detrimental, as mass adoption of smartphones transformed the tech industry.
Because of this mistaken decision, Microsoft has faced serious difficulties in this market. Its late entry and the introduction of solutions that came when competitors such as Apple and Google already dominated the smartphone sector, has cost Microsoft effective leadership in the smartphone era.
The crypto community has highlighted that the combination of a flawed strategy and insufficient focus on the mobile market left Microsoft with minimal market share in the sector, showing that its lack of vision and leadership in this area was a key factor in its failure, as it will be in the Bitcoin market.
Many experts believe that cryptocurrencies and blockchain technology are in the early stages of mass adoption and could, in the future, revolutionize the way businesses and individuals handle their finances and transactions. By rejecting the proposal to invest in Bitcoin, Microsoft could be missing an opportunity to lead this change.
A conservative approach
However, it should not be forgotten that Microsoft's decision to reject the proposal to include Bitcoin in its reserves reflects a conservative stance aligned with the recommendation of its Board of Directors, which He said the company is conducting an evaluation of a wide range of assets, including Bitcoin..
It should be noted that at the end of October, Bitcoin financial analyst MacroScope said that the tech company could enter the crypto market not through direct BTC purchases, but possibly through cash exchange-traded funds, which were approved in the United States earlier this year.
Recent activity in the capital market, where Bitcoin has begun to play a catalytic role, suggests that su acceptance as an institutional asset is increasing. So while Microsoft has opted not to invest in Bitcoin for now, the growing legitimacy and interest in cryptocurrencies as a hedge against inflation could lead to a future reconsideration.
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