Meta Shareholders Overwhelmingly Reject Bitcoin Treasury Proposal Amid Tech Sector Caution
Meta shareholders have decisively voted down a proposal to allocate part of the company’s $72 billion cash reserves to Bitcoin (BTC), with only 0.08% support versus nearly 5 billion opposing votes, according to a recent SEC filing. The proposal, led by Bitcoin advocate Ethan Peck, cited Bitcoin’s potential as an inflation hedge and referenced BlackRock’s endorsement of a 2% BTC allocation. However, CEO Mark Zuckerberg, holding 61% of Meta’s voting power, is believed to have substantially influenced the outcome against the move. Similar shareholder Bitcoin proposals have also been rejected at Microsoft, with Amazon yet to vote. Despite continued global interest in cryptocurrency adoption—as reflected by over 100 public companies, including MicroStrategy, Tesla, and GameStop, already holding BTC—major US tech firms like Meta remain conservative toward integrating volatile crypto assets into corporate treasuries. This signals ongoing hesitation among top tech companies regarding direct Bitcoin adoption, indicating a cautious market environment for large-scale corporate crypto treasury initiatives.
Neutral
The overwhelming rejection of the Bitcoin treasury proposal by Meta’s shareholders indicates that major US tech firms remain reluctant to adopt Bitcoin as a corporate treasury asset. While global interest in corporate Bitcoin holdings is growing, with more public companies adding BTC to their reserves, this decision signals that large-scale tech adoption is not imminent. The immediate impact on Bitcoin’s price is likely neutral, as market participants may have already anticipated such resistance from top tech companies, especially following similar rejections at Microsoft. In the longer term, continued caution from influential corporates like Meta dampens expectations for a rapid wave of institutional Bitcoin purchases, which could temper bullish momentum. However, the ongoing trend of some firms adding BTC provides a stable underlying demand, offsetting any overtly negative effects.