Thanks to some shareholder(s), MSFT’s upcoming AGM will include a vote on whether the company should move 1% of its cash reserves to Bitcoin. Obviously, the board is against the proposal (this year). It’s easy for the board to dismiss the proposal for a number of reasons: no strategic alignment, operational complexity, financial risks. But I feel like this will get the ball rolling for more corporations in the future, and it will be harder for any board to keep justifying staying away from bitcoin. I don’t want to put a number on it, but I feel like 2025 might be the year we start seeing more public companies adopting a small bitcoin strategic reserve.

I feel like a 1% exposure makes sense even at current, near ATH prices (even for a personal wealth portfolio). I was first introduced this magic number by my former boss, Wences Casares. He makes the case much more elegantly than I ever could here and in classic “patient zero” manner, he pleaded the case 5 years ago in 2019.

If you don’t have any bitcoin exposure in your portfolio, why?