Meta Platforms Inc. shareholders have decisively voted down a proposal to incorporate Bitcoin into the company’s corporate treasury.
During Meta’s annual shareholder meeting, just 0.1% of votes were cast in favor of the proposal, which was introduced in January by Ethan Peck of the National Center for Public Policy Research.
The measure called for allocating a portion of Meta’s $72 billion in cash and cash equivalents to Bitcoin, citing the cryptocurrency’s potential as an “inflation-resistant store of value.”
However, a staggering 95% of shareholders rejected the idea, according to a May 28 regulatory filing.
The outcome aligns Meta with other technology giants such as Microsoft and Amazon, whose shareholders have also recently rebuffed similar attempts to integrate Bitcoin into corporate balance sheets.
Matthew Sigel, Head of Digital Asset Research at investment firm VanEck said, “Tech firms like Meta hold large cash reserves, but their treasury functions remain risk-averse […]. For now, Bitcoin remains a step too far.”
Despite ongoing advocacy from Bitcoin proponents, the message from Meta shareholders is clear: the focus remains on stability and core innovation, not crypto experimentation, at least for now.