While the world seems moist that it can make a swift buck by investing in Bitcoin, Vole confirmed that a resolution to consider adding Bitcoin to its balance sheet was turned down at its annual meeting.

Microsoft met with its shareholders to discuss several proposals, one of which was to include Bitcoin in the company’s reserves.

A proposal, titled “Bitcoin Investment Assessment,” was put forth by Microsoft’s shareholder group, the National Center for Public Policy Research (NCPPR), to investigate the possibility of the computer giant investing a per cent of its assets in Bitcoin.

According to Bloomberg, Microsoft has $78.4 billion in cash and marketable securities on its balance sheet.

 Shareholders, however, heeded Microsoft’s management’s recommendation to reject this idea.

The Securities and Exchange Commission tagged the proposal as unnecessary, stating, "Corporate treasury applications that need steady and predictable investments to guarantee liquidity and operational funding should consider volatility when assessing cryptocurrency investments.”

Unsurprisingly, the latter voted “No” to the study of a potential Bitcoin treasury presented to the board of directors.

The success of IBIT, the Bitcoin spot ETF of BlackRock, which happens to be Microsoft’s second-largest shareholder, was used by the NCPPR group to support its claim that Bitcoin adoption could “reduce risk” and create billions of dollars in value for Microsoft shareholders.

For those who came in late, Bitcoin is an imaginary currency that requires “investors” to convince others to buy (or mine) it so that the value of their investment goes up. Bitcoin investors, Apple fanboys, and Vegans are listed as people the least likely to be spoken to at parties because they can’t shut up about their favourite obsession.