Meta Shareholders Slam The Brakes On Bitcoin Plan
The post Meta Shareholders Slam The Brakes On Bitcoin Plan appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Meta Platforms’ shareholders voted against a plan to see if the company should hold Bitcoin as part of its cash reserves. Nearly 9 million shares were abstentions, and almost 205 million shares counted as broker non-votes. The vote happened at the company’s annual meeting this week. Short of support, the proposal failed to move forward. Shareholders Reject Bitcoin Proposal According to public filings, investor Ethan Peck of the National Center for Public Policy Research asked Meta to study whether swapping some of its $72 billion in cash, cash equivalents, and marketable securities for Bitcoin could help protect value. Peck pointed out that inflation and low returns on bonds have been eroding the company’s cash hoard. He noted that Bitcoin’s fixed supply and past price gains might offer a hedge. Some shareholders voted in favor, but most sided with the company’s board. Meta Platforms Shareholders Vote Against Bitcoin Treasury Assessment Proposal pic.twitter.com/ZeIrUHq2OK — Phoenix » PhoenixNews.io (@PhoenixNewsIO) May 30, 2025 Board Cites Solid Treasury Management Based on reports, Meta’s directors said there was no need for a separate Bitcoin study. They argued that the company already has a plan to keep its cash safe. Meta’s leaders wrote that they review many kinds of investments on a regular basis to ensure they have enough liquid funds for operations. They did not comment on whether Bitcoin was a good or bad choice. Instead, they said their existing process meets all their needs. BTC is now trading at $104,470. Chart: TradingView Push For Corporate Bitcoin Falls Short The National Center for Public Policy Research has tried similar pushes at Microsoft and Amazon. Microsoft shareholders in December 2024 rejected a proposal to put Bitcoin on the balance sheet. Amazon faced a comparable…
Filed under: News - @ June 1, 2025 9:27 am