Meta Platforms Inc. shareholders have voted decisively against a proposal to consider adopting Bitcoin as part of the company’s corporate treasury strategy.
The motion, which aimed to explore Bitcoin allocation similar to moves made by firms like MicroStrategy, failed to gain support during the latest shareholder meeting.
Lopsided Vote Reflects Cautious Sentiment
The final tally showed 4.9 billion votes opposing the initiative, with only 3.9 million in favor. An additional 8.85 million shares abstained from voting altogether. The significant margin highlights continued resistance within Meta’s investor base to integrate Bitcoin into the company’s balance sheet, especially amid ongoing regulatory scrutiny and volatility in digital assets.
Crypto Advocates Face Setback
This vote outcome delivers a blow to proponents of broader institutional Bitcoin adoption, particularly those who viewed Meta as a potential “Big Tech” leader in the space.
For now, Meta appears to be staying the course with its current financial strategy, signaling that, despite growing industry interest, large-cap tech firms remain cautious on directly holding Bitcoin.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/meta-shareholders-reject-proposal-to-add-bitcoin-to-treasury/