Meta shareholders overwhelmingly rejected the Bitcoin fiscal strategy proposal, with only 0.08% in support.

Odaily Planet Daily News reports that according to SEC documents dated May 28, Meta shareholders overwhelmingly rejected a proposal to allocate part of its $72 billion cash reserves into Bitcoin, with nearly 5 billion votes against and only 3.92 million votes in favor. The proposal was initiated by Bitcoin advocate Ethan Peck, Head of Bitcoin at Strive Wealth Management, who has previously submitted similar proposals to Microsoft and Amazon. Microsoft has already rejected the proposal, while Amazon has yet to vote. Peck advocates for holding Bitcoin as a strategic reserve asset to hedge against monetary policy uncertainties. Although Meta has previously been involved in the blockchain project Libra (later renamed Diem and since shut down), the company's current stance on crypto assets remains unclear. Earlier this year, reports indicated that Meta is exploring the use of stablecoins for managing payments across applications. (CoinDesk)