Meta shareholders strongly oppose the proposal to include Bitcoin in the balance sheet. According to documents submitted to the U.S. Securities and Exchange Commission on May 28, about 4.90 billion votes opposed the proposal, with only 0.08% supporting it. Meta CEO Mark Zuckerberg holds 61% of the voting rights and is likely to vote against the proposal. The proposal was submitted by Bitcoin supporter Ethan Peck on behalf of the National Center for Public Policy Research, suggesting that Meta convert part of its $72 billion cash reserves into Bitcoin to better protect shareholder value. Although Meta has not included cryptocurrencies on its balance sheet, it has attempted to launch the blockchain project Libra. Similar proposals have also been submitted to Microsoft and Amazon; Microsoft's shareholders have rejected the plan, while Amazon shareholders have yet to vote. Globally, more than 115 publicly listed companies have included Bitcoin in their balance sheets, with the company led by Michael Saylor holding the most Bitcoin.

Shareholders of Mark Zuckerberg’s Meta have voted against a proposal to consider adding Bitcoin to the company’s balance sheet.According to aMay 28 filingwith the U.S. Securities and Exchange Commission, an eye-popping 4.9 billion votes were cast in opposition while 3.92 million — a mere 0.08% of the total — supported the proposal.Meta CEO Mark Zuckerberg controls 61% of the company’s voting power, an April regulatory statement reveals, which could mean that he voted down the idea.The proposal, submitted in January by Bitcoin champion Ethan Peck, representing the National Center for Public Policy Research (NCPPR), asked Meta to convert a portion of its $72 billion in excess cash and cash equivalents into the apex crypto to better preserve shareholder value. The measure touted Bitcoin, with its fixed supply and strong past performance compared to bonds, as a more reliable long-term store of value.Peck claimed that the tech giant should treat the largest crypto as a strategic reserve asset, similar to a corporate war chest designed to endure monetary policy uncertainty. He also pointed out that Meta’s second-largest shareholder, BlackRock, advised that a 2% Bitcoin allocation is reasonable.While Meta doesn’t want to hold crypto on its balance sheet, the firm has previously dipped its toes into blockchain. In June 2019, it unveiled Libra, a global stablecoin project backed by a basket of fiat currencies. That project collapsed in 2022 after unwelcome regulatory scrutiny and internal wrangles,rebrandingbriefly as Diem before shutting down andselling assets to crypto bank Silvergate.Peck also submitted similar Bitcoin treasury proposals to Microsoft and Amazon on behalf of the conservative think tank NCPPR. Microsoft shareholdersvoted againstthe plan in December, while Amazon shareholders are awaiting a vote on whether toput at least 5% of the company’s assetsinto Bitcoin.Bitcoin Treasury FrenzyThough Bitcoin treasury proposals were rejected by Meta and Microsoft, global publicly listed companies continue accumulating the flagship crypto.Data tracked by Bitcoin Treasuries shows that over 115 public companies have added Bitcoin to their balance sheets, with one of the newest entrants being GameStop.Michael Saylor’s Strategy leads all publicly traded firms with580,955 BTC, worth over $60 billion, while eight others, including Marathon Digital Holdings and Elon Musk’s Tesla, each hold roughly $1 billion worth of Bitcoin.

Meta shareholders reject proposal to include Bitcoin on the balance sheet