Polymarket bettors are forecasting that Microsoft shareholders will likely reject Michael Saylor’s proposal to add bitcoin to the company’s balance sheet. According to the latest betting odds on Polymarket, there’s only an 11% chance that the proposal will pass.

On Polymarket, bettors can place wagers on either the “Yes” or “No” side, with a successful prediction earning $1 in USDC (a stablecoin pegged to the U.S. dollar) and the other side receiving nothing.

In October, the National Center for Public Policy Research suggested that Microsoft diversify its investments by adding bitcoin to its balance sheet. However, Microsoft’s board recommended shareholders vote against the proposal, citing concerns over the volatility of cryptocurrencies and their unsuitability for a company of Microsoft’s size.

Michael Saylor, the executive chairman of MicroStrategy (MSTR), whose stock has risen by 455% this year, recently pitched the idea to Microsoft’s board. He argued that bitcoin could serve as a hedge against inflation and economic uncertainty, potentially increasing Microsoft’s $3.2 trillion market capitalization to over $8 trillion.

Saylor also criticized Microsoft’s current treasury management, claiming that the company has “surrendered” $200 billion in capital over the past five years through dividends and stock buybacks. He suggested that this capital could have been better invested in bitcoin, which has appreciated over 1,200% during the same period.

Some Polymarket bettors, however, have expressed doubt about the proposal. One bettor, Oxymirin, who placed a $2,000 wager on the “No” side, argued that Microsoft does not need to add bitcoin to its balance sheet, as there are already multiple ways for institutional investors to gain exposure to the cryptocurrency.

“They’re just complicating things by mixing stable assets like Microsoft stock with the volatility of bitcoin,” Oxymirin stated.

Conversely, a bettor known as titanlin, who is on the “Yes” side, believes that Microsoft might allocate a small portion of its funds to bitcoin, given its strong cash reserves.

“I think they’ll test the waters with a small amount. Shareholders will have a say, but Microsoft’s cash position makes it possible,” titanlin said.

Microsoft’s next shareholder meeting is set for December 10, where the proposal will be put to a vote.