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Meta shareholders overwhelmingly rejected a proposal to explore Bitcoin as a treasury reserve asset, with nearly 5 billion votes against the idea. The decision highlights Meta’s preference for traditional cash reserves over cryptocurrency investments. The proposal, backed by Bitcoin advocate Ethan Peck, argued Bitcoin could serve as an inflation hedge.
- Meta shareholders voted overwhelmingly (nearly 5 billion against) to reject a Bitcoin treasury proposal, favoring traditional cash reserves.
- Ethan Peck, the proposal's advocate, argued Bitcoin could hedge inflation, but failed to sway shareholders, including Meta's CEO Mark Zuckerberg.
- While Meta and Microsoft resist Bitcoin adoption, firms like MicroStrategy and GameStop continue expanding their crypto holdings.
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