Meta Platforms shareholders rejected a measure that urged the company to add Bitcoin (BTC) to its $72 billion cash pile, voting 4.98 billion shares against and 3.92 million for at the May 30 annual meeting, as reports surfaced.

Abstentions totaled 8.86 million shares, while brokers withheld votes on 204.77 million shares. With fewer than 0.1% of votes cast in favor, the initiative fell well short of passage.

The resolution, submitted by Ethan Peck of the National Center for Public Policy Research, asked Meta to “provide a counterweight against lower bond effectiveness” by converting an unspecified portion of surplus cash into Bitcoin. 

Peck framed the asset as an inflation hedge, noting its price increase in 2024 compared with modest bond returns. 

Outside advocates pressed Zuckerberg

The ballot followed public lobbying from Strive Asset Management CEO Matt Cole, who called Meta CEO Mark Zuckerberg during the 2025 Bitcoin Conference, urging a “bold corporate Bitcoin treasury approach” and endorsing a “yes” vote on Proposal 13. 

On the same day, Bloomberg senior ETF analyst Eric Balchunas said Meta could become the first US megacap to add Bitcoin this cycle, suggesting such a move would signal broader corporate acceptance.

Prior attempts to sway Microsoft and Amazon shareholders toward similar steps have also failed, highlighting the hurdles Bitcoin advocates face when targeting large-cap firms with conventional treasury frameworks.

The vote leaves Meta’s treasury unchanged, but it confirms that crypto proponents will likely continue pressing US blue-chip boards to revisit digital-asset policies as regulatory clarity improves.

The post Meta shareholders reject Bitcoin treasury bid in landslide vote appeared first on CryptoSlate.

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Filed under: Bitcoin - @ May 30, 2025 9:45 pm