Michael Saylor, executive chairman of business intelligence firm MicroStrategy, recently gave a three-minute presentation to the Board of Directors of tech giant Microsoft.
The Bitcoin evangelist attempted to explain why the tech giant should adopt Bitcoin, the largest cryptocurrency, with a market cap of nearly $2 billion.
In his presentation, Saylor mentioned that Microsoft "could not afford to miss out on the next technology wave."
The billionaire mentioned that Bitcoin represents "the greatest digital transformation of the 21st century."
As of now, Bitcoin is the sixth biggest asset by market cap, and it is now on track to surpass Alphabet, the parent company of search giant Google.
According to Saylor, digital capital, which Bitcoin represents, is "economically" and "technically" superior to physical capital.
He claimed that Bitcoin represents "a revolutionary advance" in capital preservation.
"It makes sense for Microsoft to be powered by digital capital," Saylor said.
He explained that the flagship cryptocurrency is the highest-performing uncorrelated asset that a corporation can possibly hold on its balance sheet.
Even though a lot of companies opt for performing stock buybacks, Saylor believes that it makes sense to just buy Bitcoin instead if these companies want to outperform the broader market.
Saylor has pointed to the fact that MicroStrategy managed to outpace every stock in the S&P 500 index.
The MicroStrategy stock is up by a staggering 465% on the year-to-date basis.
As reported by U.Today, Microsoft shareholders are on track to vote on a proposal to diversify their balance sheet with Bitcoin on Dec. 10. The proposal was submitted in October by the National Center for Public Policy Research (NCPPR). Microsoft's board has recommended and voted against it.
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Dan Burgin
Vladislav Sopov