- Meta shareholders reject Bitcoin treasury proposal.
- No market impact observed.
- Microsoft previously rejected similar proposals.
Meta shareholders voted against a proposal urging the company to allocate part of its $72 billion cash reserves to Bitcoin as an inflation hedge.
Proposal Rejection
Ethan Peck, affiliated with the National Center for Public Policy Research, proposed this during Meta’s shareholder meeting. Peck urged Meta to consider Bitcoin amidst inflation concerns, but the proposal was voted down.
I urge Meta to allocate a portion of its substantial cash reserves to Bitcoin as an inflation hedge.
The rejection keeps Meta’s treasury strategy unchanged, having no immediate impact on crypto markets or on-chain metrics. Major crypto figures have yet to comment on this decision. Similar proposals were previously rejected at companies like Microsoft, highlighting ongoing corporate skepticism towards Bitcoin as a treasury asset.
Meta might explore technological avenues or partnerships influenced by blockchain potentials, despite the current Bitcoin stance. Future endeavors depend on evolving market demands and regulatory shifts, weighing organizational strategies on crypto adoption.
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