Meta Shareholders Reject Proposal for Bitcoin Reserves

Meta’s decision reflects a cautious approach to cryptocurrency adoption, aligning with similar refusals by Amazon and Microsoft. The rejection underscores ongoing institutional hesitance within major tech firms.

The proposal to evaluate Bitcoin as part of Meta’s $72 billion treasury was led by Ethan Peck, supported by Matt Cole of Strive Asset Management. The submission aimed to position Bitcoin as a hedge against inflationary risks. Shareholders voted overwhelmingly against with 4.98 billion votes.

Bitcoin remains unaffected in institutional flows as Meta maintains its current treasury investments. This outcome highlights the persistent reluctance of major corporations to pivot toward digital asset strategies.

Meta’s decision indicates another hurdle for Bitcoin. Despite advocacy from crypto leaders, large corporations remain hesitant. Matt Cole, CEO of Strive Asset Management, remarked,

“If Mark Zuckerberg adopted a bold corporate Bitcoin treasury approach, it would signal a significant shift in how major companies think about digital assets and inflation hedging.”

Continued resistance may influence perceptions of Bitcoin as a viable reserve, despite broader institutional advocacy.

Some analysts predict this ongoing trend of rejecting Bitcoin treasury proposals may delay widespread adoption. However, with continued lobbying efforts, shifts in corporate strategies might eventually occur.