In a big development, MicroStrategy (NASDAQ:MSTR) Chairman Michael Saylor will present a case for Bitcoin (CRYPTO: BTC) investment to the board of directors at Microsoft Corporation (NASDAQ:MSFT).

What Happened: During an X space hosted by asset manager VanEck, Saylor said he was contacted by the activist who put up the shareholder proposal to present to the board.

"I agreed to provide a three-minute presentation. That's all you're allowed. I'm going to actually post that online and I'm going to present it to the board."

Saylor said he even proposed meeting with CEO Satya Nadella to discuss the strategy, but the offer was not accepted.

"I think it's not a bad idea to put it on the agenda of every company. It ought to be put on the agenda of Berkshire Hathaway, Apple, and Google because they all have huge hordes of cash and they're all burning shareholder value," Saylor argued.

The MicroStrategy chief said that Microsoft stock would be "much less risky" if half of its enterprise value—which was currently just around 1.5%— is based on tangible assets like Bitcoin.

Meanwhile, Saylor also offered to discuss the implications of adding Bitcoin to the Treasury with Rumble Inc. (NASDAQ:RUM) CEO Chris Pavloski.

Why It Matters: Microsoft was set to vote on an assessment of investing in Bitcoin during next month's shareholders meeting. The shareholders requested the board conduct the assessment, citing Bitcoin's healthy gains over the last five years.

The proposal explicitly mentioned MicroStrategy, a pioneer in corporate Bitcoin adoption whose shares have outperformed Microsoft in 2024.

Price Action: At the time of writing, Bitcoin was trading at $92,054.06, up 0.86% in the last 24 hours, according to data from Benzinga Pro. Shares of MicroStrategy surged nearly 12% during Tuesday's regular session, while Microsoft closed 0.49% higher.

Photo: DCStockPhotography/Shutterstock

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