Meta Rejects Bitcoin Investment
Meta Shareholders Reject Bitcoin Investment Proposal
Meta Platforms, parent company of Facebook and Instagram, decisively rejected a shareholder proposal to allocate a portion of its treasury reserves to Bitcoin. The vote reflects a prevailing cautious stance within Big Tech toward cryptocurrency adoption, despite rising interest from other corporations.
Overwhelming Rejection
Shareholder voting results revealed a significant margin against the Bitcoin investment. Only 3.9 million votes supported the proposal, compared to over 4.9 billion against it. An additional 8.9 million shares abstained, and 205 million were broker non-votes.
This vote follows a proposal earlier this year by Meta shareholder Ethan Peck, who advocated for Bitcoin adoption due to increasing institutional interest and Bitcoin's potential to outperform traditional assets. However, Meta's board preemptively rejected the proposal, citing robust existing treasury management practices.
Meta's Stance on Crypto
While rejecting the Bitcoin investment, Meta's board didn't completely dismiss digital assets. Their statement emphasized their existing treasury management processes as sufficient, implying that they didn't see a compelling case for Bitcoin specifically, but aren't ruling out other crypto possibilities.
“While we are not opining on the merits of cryptocurrency investments compared to other assets, we believe the requested assessment is unnecessary given our existing processes to manage our corporate treasury,” stated Meta’s board.
The company is reportedly exploring blockchain technology for other applications, including potential integration of a stablecoin to facilitate global payments. This signals a more nuanced approach, focusing on the underlying technology rather than direct Bitcoin investment.
Comparison to Other Tech Giants
Meta's decision mirrors recent shareholder rejections at Amazon and Microsoft, who faced similar proposals to add Bitcoin to their corporate treasuries. This underscores a broader trend of hesitation among major tech companies towards direct Bitcoin investment, despite its increasing adoption elsewhere.
Despite CEO Mark Zuckerberg's past connections to crypto culture (even owning a goat named Bitcoin!), Meta's decision counters speculation that the company might spearhead a new wave of tech firms embracing digital assets as reserve assets.
As of May 2025, over 85 public companies hold more than 804,000 BTC, led by Strategy with over 580,000 BTC. Meta's decision keeps them outside this group for now.
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