Polymarket bettors are predicting that Michael Saylor’s proposal to add bitcoin to Microsoft’s balance sheet is unlikely to gain shareholder approval. According to betting odds on Polymarket, the chances of the proposal passing are only 11%, indicating widespread skepticism among investors.

Each bet on Polymarket includes two options, “Yes” and “No,” with the correct prediction earning a payout of $1 in USDC, a stablecoin pegged to the U.S. dollar. If the prediction is wrong, the payout is zero.

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

Michael Saylor, chairman of MicroStrategy (MSTR), which has seen its stock soar by 455% this year, recently presented this proposal to Microsoft’s board. Saylor argued that bitcoin could act as a hedge against inflation and economic uncertainty, potentially boosting Microsoft’s market capitalization from $3.2 trillion to over $8 trillion.

Saylor also criticized Microsoft’s current treasury strategy, claiming the company has “surrendered” $200 billion over the past five years through dividends and buybacks—funds that could have been invested in bitcoin, which has surged more than 1,200% during that time.

Some Polymarket bettors are doubtful of the proposal, arguing that institutional investors have plenty of ways to gain bitcoin exposure without adding it directly to Microsoft’s balance sheet. One bettor, Oxymirin, who placed a $2,000 bet on the “No” side, suggested that introducing bitcoin would complicate Microsoft’s value assessment by mixing stable investments with volatile ones.

“They’re just making their value assessment more difficult by mixing stable investments (MFST) with volatile ones (BTC),” Oxymirin said.

On the other hand, a bettor named titanlin, who placed a bet on the “Yes” side, argued that Microsoft, given its strong cash position, may allocate a small portion of its funds to bitcoin for testing purposes.

“I think a small amount of funds will be allocated for testing. After all, shareholders’ rights must be considered. Microsoft’s cash position is strong, and the company already has some options for buying Bitcoin,” titanlin wrote.

Microsoft’s next shareholder meeting is scheduled for December 10, when the proposal will be voted on.