Voting results show that Microsoft's main shareholders opposed the company's Bitcoin investment proposal on Tuesday. The Microsoft Board of Directors had earlier urged shareholders to reject a suggestion from the National Center for Public Policy Research that the company invest 1% of its total Assets in Bitcoin to hedge against inflation.

At the annual meeting, MicroStrategy Chairman Michael Saylor gave a three-minute speech attempting to persuade Microsoft shareholders to support the proposal. His company has invested billions of dollars in Bitcoin.

Data shows that the largest shareholders of Microsoft are institutional investors, including Vanguard and Blackrock.