Meta Shareholders Reject Proposal to Add Bitcoin to Treasury

Meta Shareholders Reject Proposal to Add Bitcoin to Treasury

Meta Shareholders Reject Proposal to Add Bitcoin to Treasury

Business
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Last updated: June 2, 2025
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3 mins read

Meta Platforms shareholders have unanimously rejected the proposal to consider adding Bitcoin to the balance sheet of the company. The decisive vote ended with only 0.08% of the votes cast in its favor. Titled the “Bitcoin Treasury Assessment,” the proposal was presented at Meta’s recent annual general meeting. During the event, voting was conducted on the matter, with 392 million votes in favor of the proposal and 5 billion votes cast against it. The data was received via the company’s May 28 regulatory filing.

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This result sends a clear message that the majority of the Meta investors are not in favor of the tech giant’s new inclination towards Bitcoin as a treasury asset.

Meta Rejects Bitcoin Treasury Proposal

It is believed that Meta CEO Mark Zuckerberg voted against the proposal. Since he holds 61% of the company’s voting power, it is believed that Zuckerberg was against this proposal, and that sealed its fate.

It was introduced back in January by Ethan Peck, who is a Bitcoin advocate. He urged Meta to invest part of its $72 billion in cash and cash equivalents into Bitcoin. Peck argued the move could serve as a hedge against inflation, stating in his supporting documentation that “28% of Meta’s total assets are consistently diminishing shareholder value” due to cash debasement and low bond yields.

Peck also serves as a Bitcoin director at Strive Asset Management. He noted that even BlackRock, which is Meta’s second-largest shareholder, has acknowledged a 2% Bitcoin allocation as a reasonable strategy. He submitted the proposal on behalf of his family’s Meta shares.

This is not the first time Peck has pushed a major tech company to buy Bitcoin. He made a similar proposal to Microsoft and Amazon in 2024. Microsoft shareholders rejected the plan in December, while Amazon shareholders have yet to vote on a proposal to allocate 5% of its assets to Bitcoin.

However, some analysts remain cautious. Valereum CEO Nick Cowan previously told Cointelegraph that while companies like Amazon are more open to emerging technologies, the volatility of Bitcoin presents an opportunity cost when compared to reinvesting capital in research, development, or acquisitions.

Despite Meta’s firm rejection, corporate adoption of Bitcoin is steadily increasing. According to BitcoinTreasuries.net, 116 publicly traded companies now hold Bitcoin on their balance sheets. GameStop and Sweden’s H100 Health Tech are among the newest entrants, having made their first purchases last month. Leading the pack is MicroStrategy, led by outspoken Bitcoin bull Michael Saylor, which holds more than 580,000 BTC, currently valued at nearly $61 billion. Other major holders include Tesla and Marathon Digital Holdings, each with Bitcoin reserves exceeding $1 billion.

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