Dell has rejected shareholder proposals for "requesting Bitcoin to be included in the company's treasury"

PANews reported on May 13 that Dell formally rejected a shareholder proposal that calls for the inclusion of Bitcoin in the company's treasury. Dell said in a reply letter on May 9 that proposals that “deeply explore complex matters that make shareholders unable to make wise judgments and thus improper micromanagement of the company” could be excluded. The support statement of the proposal exposed the proposer's intention to micromanage management's discretion in managing the company's cash and building an investment structure. It argued that Dell should consider replacing some cash and bonds with assets such as Bitcoin that can outperform inflation. However, staff have previously pointed out that stipulating the company's investment form will improperly limit management's discretion in ordinary business affairs. Whether it is demanding investment in cryptocurrency assets or divesting such assets, the proposal improperly limits management and board autonomy in corporate management.