Source: Michael Saylor's PPT at Microsoft's board of directors, compiled by Jason, Golden Finance
Microsoft will hold a shareholders' meeting on December 10, when Microsoft will vote on the "Bitcoin Investment Proposal", which requires an assessment of the benefits of investing part of its assets (even if only 1%) in Bitcoin. If the proposal is passed, it will be another milestone event affecting the crypto industry.
Microsoft held a board meeting on December 1, and MicroStrategy founder Michael Saylor was invited to present a 44-page PPT "Microsoft Bitcoin Strategy" in 3 minutes at the meeting.
Michael Saylor told the Microsoft board of directors that Microsoft cannot miss the next wave of technology "digital capital". The biggest digital transformation in the 21st century is capital transformation, and Bitcoin is digital capital. Microsoft needs to evaluate the Bitcoin strategic options. The Bitcoin strategy will increase Microsoft's market value by trillions of dollars, and Microsoft can create shareholder value of 1 trillion to 4.9 trillion dollars through Bitcoin. If Microsoft adopts "triple maximalism", its market value can increase by nearly 5 trillion US dollars. If it adopts the Bitcoin standard, Microsoft will succeed.
What are the specific contents of this 44-page PPT? This article will show you in detail.
1. Microsoft cannot miss the next wave of technology: personal computing, graphical user interface, Internet, mobile computing, cloud computing, artificial intelligence, digital capital.
![7328240 xhVP70PHphO8CNWKj4VFUKKWGLPECEOF46fw76qb.png](https://img.jinse.cn/7328240_watermarknone.png)
2. Bitcoin is the power of the next wave of "2 trillion US dollars". Currently, Bitcoin is the seventh largest asset in the world: the fastest growing, most popular, most interesting, most digital, most useful, and most globalized.
![7328241 HgGqmR3BBOLEYyZxsRCe0dbbdQffFeFtAgwN1Dz1.png](https://img.jinse.cn/7328241_watermarknone.png)
3. The biggest digital transformation in the 21st century is capital transformation, and Bitcoin is digital capital. (Note: Some PPTs only have text, so we only display text in this article.)
4. Global wealth will be distributed in various assets.
![7328242 Fiqj2V109mY8kOjd0OWWztdIbvWUJkIJKd1hhM63.png](https://img.jinse.cn/7328242_watermarknone.png)
5. Global wealth assets (a) provide utility; (b) preserve capital.
![7328243 eAwwcPZagkylnKIFcr7Tv8iN8o2ogDiSWNEWHdyn.png](https://img.jinse.cn/7328243_watermarknone.png)
6. Risk factors: more than $10 trillion of capital is destroyed every year.
Regulation, taxation, competition, obsolescence, economic and political chaos, and crime dilute capital.
![7328244 cyic8KBgsepverB0DEItHGyWzgRShVtked75VAph.png](https://img.jinse.cn/7328244_watermarknone.png)
7. Long-term capital is turning to digital capital.
![7328245 CrI28WdwEB7YNZuwmAbU7Tn0RM0fYZHly55PqHVq.png](https://img.jinse.cn/7328245_watermarknone.png)
8. Digital capital is superior in terms of economy and technology.
![7328246 KPKQEKlfjHhnBEkagYdgpMacbOPrrwPQhjBqf0yW.png](https://img.jinse.cn/7328246_watermarknone.png)
9. Bitcoin is a revolutionary advancement in capital preservation.
![7328247 BHsroXHU84weeZUfnmsoVLyww9x8VKq2HzUm8FTC.png](https://img.jinse.cn/7328247_watermarknone.png)
10. Bitcoin growth: It will increase from $2 trillion to more than $200 trillion in 21 years.
![7328249 Z0BhT8TMaUMBee1Dslsti9KdlinvJj1DaDjlvG1e.png](https://img.jinse.cn/7328249_watermarknone.png)
11. Bitcoin: Secured by digital, political and economic forces.
![7328250 1kNJUrnxwagxa67gP9NgqUFeCOUCWCDphQEgdVht.png](https://img.jinse.cn/7328250_watermarknone.png)
12. Microsoft should be supported by digital capital.
13. Bitcoin is the best performing non-correlated asset on corporate balance sheets.
14. Over the past four years, Bitcoin has been the best performing asset on an annualized basis.
![7328251 VwTp0qlpRhm1UfZVC7t1zM4RrSs8Gigso1qpjLO9.png](https://img.jinse.cn/7328251_watermarknone.png)
15. Bitcoin has outperformed Microsoft by about ten times in the past four years.
![7328252 iUoPoXs4GyV5ol1Pzck6osnFRbO4lVBX9SbLCAEk.png](https://img.jinse.cn/7328252_watermarknone.png)
16. Bitcoin is vital, and bonds are toxic.
![7328253 S09Ub647YlJAcG3aWmRbTlMY6pnCbp1arkFi5yi0.png](https://img.jinse.cn/7328253_watermarknone.png)
17. If you want outstanding performance, you need Bitcoin (Digital Capital)
![7328254 y3stNk66yfsuAH3YwDv6XCBTSIjgTGniVL6fiJHD.png](https://img.jinse.cn/7328254_watermarknone.png)
18. MSFT stock and options are weak and deteriorating. Microsoft is destroying its options market and weakening the role of its stock as a store of value through its financial strategy.
![7328255 bfGO8gnwOVoFauXFt1oeRN548CfRNelvlmH1WVHO.png](https://img.jinse.cn/7328255_watermarknone.png)
19. In 2024, Bitcoin has become an institutional asset and is now a viable alternative to public company bonds.
Sponsored Business Content![advertisement](https://image.coinlive.com/cryptotwits-static/0604ef39cd9ec7be6a3ada4f5464434c.jpeg)
20. The number of public entities holding Bitcoin is surging.
![7328257 k4TuhuLDqHkMHo9QAQCOT3ksXsC9jhyi7MqHLoAZ.png](https://img.jinse.cn/7328257_watermarknone.png)
21. The political support for Bitcoin is surging. The White House supports Bitcoin, the Senate supports Bitcoin, the House of Representatives supports Bitcoin, and Wall Street supports Bitcoin. Donald Trump, JD Vance, Robert Kennedy, Howard Lutnick, Scott Bessant, Vivek Ramaswamy, Michael Waltz and Elon Musk all support Bitcoin.
22. Support for the US strategic Bitcoin reserve is heating up.
![7328260 7poTtKmAxnUCc6PHTNwrMs44eDGniPUOxl8EmbAd.png](https://img.jinse.cn/7328260_watermarknone.png)
23. Wall Street's support for Bitcoin is also heating up.
![7328261 hCjmrEnFTRWZ8mClMjX1wQl3p8bSSOok2aMiMQIZ.png](https://img.jinse.cn/7328261_watermarknone.png)
24. Trump: Never sell your Bitcoin.
![7328262 KEFkhLwANoPtUNruZkJugQmi5zMo45h8zFt9SGbB.png](https://img.jinse.cn/7328262_watermarknone.png)
25. 2025: The first year of the cryptocurrency revival, expectations: Wall Street will adopt Bitcoin, ETFs, FASB fair value accounting, a president and cabinet that will go straight for Bitcoin, more than 250 cryptocurrency supporters in Congress, Bitcoin strategic reserves, repeal of SAB 121, end of the cryptocurrency war, digital asset framework, and more and more companies adopting Bitcoin standards.
26. Microsoft needs to make a choice.
27. Choice 1: Stick to the past. Traditional financial strategies based on treasury bonds, repurchases and dividends; Choice 2: Embracing the future will lead to innovative financial strategies based on Bitcoin as a digital capital asset.
28. Option 1: Capital shrinks by $100 billion each year, increasing investor risk and slowing growth; Option 2: Capital grows by $100 billion each year, reducing investor risk and accelerating growth.
29. Microsoft has lost $200 billion in capital in the past five years.
![7328263 eKKJH8T7jtrkH2TYEJqGNYeOgCpuH4QpFANi8oCW.png](https://img.jinse.cn/7328263_watermarknone.png)
30. Buybacks and dividends exacerbate Microsoft's risk factors, including: fierce market competition, cybersecurity threats, regulatory compliance, intellectual property, global economic conditions, supply chain disruptions, product development and innovation, cloud service adoption, market saturation, legal proceedings, acquisitions and strategic alliances, tax risks, foreign exchange fluctuations, talent acquisition and retention, hardware manufacturing, environmental and social responsibilities, intellectual property litigation, intellectual property licensing, economic sanctions and trade restrictions, natural disasters and catastrophic events, technological changes, customer preferences, third-party service providers, data privacy, and reputation management.
31. Bitcoin is the best way to get out of a vicious cycle. Bitcoin is a commodity, not a company.
![7328264 T6Y8vmK6uHV4fEzbQPyGXzp2lXtMD8b7Mkp1hqRZ.png](https://img.jinse.cn/7328264_watermarknone.png)
32. Bitcoin is an asset with no counterparty risk from competitors, countries, companies, creditors, culture or currency.
33. What if you could acquire a $100 billion company with an annual growth rate of 60%?
34. What if the company's profits are higher than your own?
35. What if you could easily do this every year, forever?
36. Bitcoin is a universal, permanent and profitable merger partner.
37. So, it is necessary to evaluate Microsoft's strategic Bitcoin options.
38. The Bitcoin24 model is an open source macro model that uses Bitcoin24 to create customized Bitcoin company forecasts.
![7328268 H0EqmcRFmQDjgHxsl1Ekf1FSWphPnd20aZreSkRU.png](https://img.jinse.cn/7328268_watermarknone.png)
39. Microsoft business assumptions: enterprise value of $3.0 trillion (about 26 times EV/EBIT), net cash on the balance sheet of $27 billion, cash flow of $70 billion (annualized rate of return of 10%), 30% of cash flow paid out in the form of dividends, 40% of cash flow used for repurchases, stock price of about $420/share in 2024, and BTC basic annualized rate of return of 30%.
40. Bitcoin financial strategy: As Microsoft accelerates the conversion of US dollar cash flow into Bitcoin, its capital structure is strengthened.
![7328269 sdK5XQrlpT0PVEuveYPTVBjV6R5vZgzuDG9P2cFz.png](https://img.jinse.cn/7328269_watermarknone.png)
41. Bitcoin strategy drives Microsoft's stock price up: Bitcoin has the potential to contribute $155 to $584 per share to Microsoft while reducing shareholder risk.
![7328270 d7YxsnTxc4HQsurVd8B1G3ijMsuJzfJMtbyiY0Sv.png](https://img.jinse.cn/7328270_watermarknone.png)
42. The Bitcoin strategy will increase Microsoft's market value by trillions of dollars, and Microsoft can create $1 trillion to $4.9 trillion in shareholder value through Bitcoin.
![7328271 jtlIJSOMeHv7niTSq7IAh2gnGDsH4UafhISTF8CM.png](https://img.jinse.cn/7328271_watermarknone.png)
43. Bitcoin reduces the risk value of Microsoft's enterprise: Microsoft currently uses leverage to drive profit expectations, and it has reached an extremely unhealthy level.
![7328272 U68niqCzbgU46MGd6mgj6ruMtg3ur8KdMWI0WRPT.png](https://img.jinse.cn/7328272_watermarknone.png)
44. If the Bitcoin standard is adopted, Microsoft will succeed.
![7328273 1A0OqBsGjs8MzIQrsYPShhCg8Uj3kLRbhorscPKt.png](https://img.jinse.cn/7328273_watermarknone.png)
45. Do the right thing for customers, employees, shareholders, the country, and the world, and adopt Bitcoin.