Meta Shareholders Dismiss Bitcoin Treasury Proposal

Meta Shareholders Dismiss Bitcoin Treasury Proposal

The rejection highlights the tech industry’s cautious approach to cryptocurrency. Despite Meta’s continued exploration of stablecoin integration, Bitcoin’s potential as a treasury asset remains unaccepted.

Meta’s Board of Directors, who opposed the measure, emphasized existing treasury processes prioritizing liquidity and capital preservation. Only 0.1% of the shareholders voted in favor. According to Meta’s Official Regulatory Filing, “The shareholders did not approve the shareholder proposal regarding Bitcoin treasury assessment.”

Following the vote, Bitcoin’s price saw minimal impact, rising 0.89% to $106,134.28. Meta’s shares closed 3.62% higher, indicating investor confidence in Meta’s current financial strategies and robust performance driven by AI initiatives.

This outcome echoes previous rejections by Microsoft , with Amazon yet to vote on a similar proposal. The decision underscores Meta’s selective cryptocurrency adoption, focusing on stablecoin rather than Bitcoin. Historical trends suggest continued tech industry hesitation towards Bitcoin, prioritizing inflation-resistant assets elsewhere.

Ethan Peck, Proponent of the Proposal, National Center for Public Policy Research, stated, “It’s crucial that we consider Bitcoin as an inflation-resistant store of value for Meta’s substantial cash reserves.”