Meta Shareholders Reject Bitcoin Treasury Proposal
Meta Platforms will not be adding Bitcoin to its corporate treasury anytime soon. Shareholders overwhelmingly voted against a proposal to include the cryptocurrency on the company’s balance sheet, according to a recent filing with the Securities and Exchange Commission (SEC).
- Shareholders voted against a proposal to consider a Bitcoin treasury strategy.
- Approximately 95% of shareholders voted against the idea, with less than 1% in favor.
- META stock rose 3.6% following reports of a planned AI-powered advertising engine.
The vote took place at Meta’s annual shareholder meeting on Wednesday. The proposal, which would have allowed the company to invest in Bitcoin, was defeated with 4.9 billion votes against and only 3.9 million votes in favor. This continues a trend of major tech companies hesitating to embrace Bitcoin as a treasury asset.
Shareholder Opposition
The proposal was put forth by Ethan Peck, a shareholder from the National Center for Public Policy Research. Peck argued for the investment, citing Bitcoin’s fixed supply and its long-term performance compared to bonds. He also pointed to apparent interest in Bitcoin from Meta executives.
“Bitcoin offers a unique opportunity for Meta to diversify its treasury and potentially enhance returns.” – Ethan Peck
However, shareholders were not convinced. The rejection mirrors a similar outcome at Microsoft, where shareholders also voted against a Bitcoin treasury strategy in December. These decisions suggest that larger tech firms may not yet view Bitcoin as a necessary reserve asset compared to their cash holdings.
In contrast, companies like MicroStrategy and GameStop have already added Bitcoin to their balance sheets, highlighting the cryptocurrency’s growing appeal among certain investors.
AI-Driven Ad Engine Boosts Stock
Despite the Bitcoin rejection, Meta’s stock (META) experienced a positive surge. Shares jumped 3.6% on Monday following a report indicating that the company plans to launch an automated AI-powered advertising engine by 2026. This news appears to have resonated more strongly with investors, overshadowing the Bitcoin proposal.
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