Meta Shareholders Voted Down Bitcoin Reserve Proposal
At the annual shareholders' meeting on May 30, Meta Platforms shareholders overwhelmingly rejected a proposal urging the company to add Bitcoin (BTC) to its $72 billion cash reserves. The voting results showed 4.98 billion shares against, with only 3.92 million shares in favor, which accounted for less than 0.1% of the votes, making the proposal far from passing. Additionally, the total number of abstentions reached 8.86 million shares, with another 204.77 million shares abstained by brokerages.
The resolution was submitted by Ethan Peck from the National Center for Public Policy Research, who requested Meta to convert an unspecified portion of its remaining cash into Bitcoin to "counter the effects of declining bond efficacy." Peck views this asset as an inflation hedging tool and noted its price increase in 2024 would be more pronounced compared to modest bond returns.
The vote took place after Strive Asset Management CEO Matt Cole publicly lobbied for it. He called Meta CEO Mark Zuckerberg during the 2025 Bitcoin conference, urging for a "bold corporate Bitcoin financial approach" and supporting a "yes" vote on Proposal 13.
Earlier media reports suggested that Meta could become the first large U.S. tech stock to adopt Bitcoin in this cycle. However, based on the latest investment results, those expectations may be delayed.
Although this vote did not change Meta's financial status, it also confirmed that as regulatory transparency increases, cryptocurrency advocates may continue to urge U.S. blue-chip boards to reevaluate their digital asset policies.
It is worth noting that previous attempts to persuade Microsoft and Amazon shareholders to take similar actions ended in failure, and this result further demonstrates the challenges Bitcoin advocates face in persuading traditional large enterprises to adopt asset reserves.
In summary, the voting results at the Meta shareholders' meeting clearly reveal the core contradictions that arise in the process of companies allocating Bitcoin. Despite continuous pushes for financial innovation by crypto advocates, there remains an insurmountable gap between the cautious financial principles of traditional publicly listed companies and the high volatility characteristics of Bitcoin.
Do you think Meta will change its stance in the future? Is the timing for traditional companies to allocate Bitcoin not yet mature?
