Microsoft ( MSFT) shareholders voted against adding Bitcoin to the company’s balance sheet on Tuesday. The decision follows the board’s recommendation to vote against the proposal, citing Microsoft’s existing strategy of evaluating a diverse range of investable assets, including Bitcoin, as part of its broader investment framework.

Microsoft's board asked shareholders to vote against a proposed Bitcoin treasury strategy. On Tuesday, they followed suit.

The purchases took place over the week ended Sunday and were funded with share sales under the company's ATM program.

MicroStrategy Inc. MSTR Chairman Michael Saylor pitched a strong case for Bitcoin BTC/USD adoption to the Microsoft Corp. MSFT board, projecting a $5 trillion market cap addition in case of a full embrace.

Microsoft shareholders turned down a proposal calling on the company to consider diversifying its investments by including Bitcoin in the mix, but the company was actually more open-minded than it might seem.

Microsoft (NASDAQ:MSFT) shareholders will cast their votes on whether the company should publicly assess adding Bitcoin to its balance sheet on Dec. 10.

Microsoft shareholders rejected a proposal to allocate 1% of its $78 billion in cash reserves to Bitcoin. The board cited Bitcoin’s price volatility as the

Microsoft (NASDAQ:MSFT) shareholders have rejected a proposal by conservative think tank National Center for Public Policy Research and Michael Saylor, co-founder of MicroStrategy (NASDAQ:MSTR), to explore diversifying its balance sheet with bitcoin (BTC-USD).