Meta shareholders reject Bitcoin treasury proposal by 95% vote.
Focus remains on stablecoin integration strategies.
Proposal echoes rejections seen in other tech firms.
Meta Shareholders Dismiss Bitcoin Treasury Proposal
The shareholder vote highlights ongoing reluctance among major tech firms to adopt Bitcoin in treasury reserves, underscoring a preference for stable investment strategies.
Meta’s board rejected a proposal to include Bitcoin in its treasury, with a resounding 95% vote against it. The proposal was submitted by Ethan Peck, representing the National Center for Public Policy Research.
The proposal suggested that Meta’s substantial $72 billion cash reserves could be better managed by converting part into Bitcoin. Company leadership found the assessment unnecessary, prioritizing stablecoin integration instead.
The rejection had no immediate effect on Bitcoin prices or market dynamics. Meta’s decision aligns with other tech giants, like Microsoft and Amazon, which have also turned down similar proposals.
The overwhelming rejection of the proposal reaffirms Meta’s strategic focus on stable financial management. This maintains its reserves without exposure to the volatility associated with cryptocurrencies like Bitcoin.
The financial implications for Meta remain minimal, as funds and treasury management strategies are unchanged. Bitcoin advocates argue for potential inflation hedging, yet board decisions reflect caution in shifting trusted financial practices.
While some tech companies have explored digital assets, Meta’s stance highlights potential regulatory and strategic caution among major firms. Market observers call attention to the limited adoption of Bitcoin by blue-chip corporations.
