Meta shareholders turn down Bitcoin treasury reserve proposal as its stock soar on AI plans
|- Meta shareholders voted against a proposal to consider a Bitcoin treasury strategy.
- About 95% of shareholders voted against the idea, with less than 1% voting in favor of a Bitcoin treasury.
- META rose 3.6% following reports that it plans to run a fully AI-driven advertising engine.
Meta (META) shareholders opposed a proposal to adopt Bitcoin as a treasury asset, with more than 95% voting against the idea, according to a filing with the Securities & Exchange Commission (SEC). Meanwhile, its stock price jumped 3.6% following reports that it plans to run a fully automated Artificial Intelligence (AI) advertising engine by 2026.
Meta shareholders oppose establishing Bitcoin treasury
Meta Platforms will not be buying Bitcoin anytime soon after its shareholders overwhelmingly rejected the idea of a Bitcoin treasury, according to a filing with the SEC.
In an annual meeting of shareholders held on Wednesday, Meta shareholders voted against a proposal that would have allowed the company to include Bitcoin in its balance sheet.
The votes comprised 3.9 million in favor of a Bitcoin treasury assessment — less than 1% — and 4.9 billion votes — approximately 95% — against it. This adds to the tale of big tech companies refusing to adopt Bitcoin as part of their treasury.
The proposal was submitted by Ethan Peck, a shareholder at the National Center for Public Policy Research, who has been pushing for large firms to invest in Bitcoin.
Peck cited Bitcoin's fixed supply and superior long-term performance compared to bonds and referenced Meta executives' apparent interest in Bitcoin.
Peck's proposal was similarly rejected by Microsoft, whose shareholders declined to adopt a Bitcoin treasury strategy in December. The company's rejection came amid Strategy CEO Michael Saylor's effort to convince the board of Bitcoin's long-term value during a presentation.
The rejection from larger tech companies, such as Meta and Microsoft, could indicate that these firms have yet to view BTC as a necessary reserve asset against their cash holdings.
In contrast, firms such as Strategy and GameStop are already adding Bitcoin to their balance sheet, highlighting Bitcoin's growing status among this class of investors.
META jumped 3.6% on Monday following a Wall Street Journal report that the company plans to run a fully automated AI advertising engine by 2026.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.