The Proposal Was Overwhelmingly Rejected By Shareholders
In a decisive move that underscores the cautious stance of major tech companies toward cryptocurrency, Meta shareholders have overwhelmingly rejected a proposal to consider adding Bitcoin to the company’s balance sheet. The vote, held at Meta’s annual shareholder meeting, saw just 3.92 million votes in favor—representing a mere 0.08% of the total—while nearly 5 billion votes were cast against the measure. This landslide result highlights both the skepticism and risk aversion that still dominate boardrooms when it comes to integrating digital assets into corporate treasury strategies.
The Proposal: Bitcoin as a Strategic Reserve Asset
The initiative was spearheaded by Ethan Peck, a well-known Bitcoin advocate and director at the wealth management firm Strive. Peck’s proposal called for Meta to allocate a portion of its substantial $72 billion in cash and cash equivalents into Bitcoin, positioning the cryptocurrency as a hedge against inflation and a strategic reserve asset. He argued that with 28% of Meta’s total assets held in cash, the company was exposing itself to the erosive effects of currency debasement and bond yields that lag behind inflation.
Peck’s case for Bitcoin was bolstered by referencing BlackRock, Meta’s second-largest shareholder, which has publicly stated that a 2% allocation to Bitcoin is “reasonable” for corporate treasuries. The proposal was submitted on behalf of Peck’s family’s Meta shares and echoed similar initiatives he’s advanced at other tech giants, including Microsoft and Amazon.
Shareholder Response: A Resounding “No”
Despite the passionate advocacy, the response from Meta’s shareholder base was unambiguous. Less than 0.1% of votes supported the idea, while the vast majority, nearly 5 billion, rejected it outright. The defeat was widely anticipated given that Meta CEO Mark Zuckerberg controls approximately 61% of the company’s voting power, making his opposition to the proposal decisive.
The board’s official stance cited several reasons for rejecting the Bitcoin treasury strategy:
- Volatility: Bitcoin remains far more volatile than traditional reserve assets, introducing significant risk to the company’s financial stability.
- Regulatory Uncertainty: The lack of clear, consistent regulation around digital assets increases the uncertainty and potential legal exposure for a company of Meta’s scale.
- Treasury Management Practices: Meta’s board emphasized its robust existing treasury management protocols, which prioritize stability and liquidity over speculative gains.
Industry Context: Tech Giants Remain Cautious
Meta’s rejection is part of a broader trend among large-cap tech firms. Similar proposals have been put forward at Microsoft and Amazon, with Microsoft shareholders voting against the idea in December 2024 and Amazon investors still awaiting a vote on a comparable measure. The overwhelming trend among major tech corporations is to avoid volatile treasury strategies, at least until regulatory clarity improves and Bitcoin demonstrates a more stable risk profile.
This cautious approach stands in contrast to a growing number of publicly traded companies worldwide that are adding Bitcoin to their balance sheets. According to industry trackers, more than 100 public companies now hold Bitcoin as a reserve asset, including high-profile names like MicroStrategy, Marathon Digital Holdings, and Tesla.
Meta’s Evolving Relationship with Crypto
While Meta has not held cryptocurrency on its balance sheet, the company has a complex history with digital assets. In 2019, Meta (then Facebook) announced Libra, an ambitious global stablecoin project backed by a basket of fiat currencies. However, regulatory backlash and internal challenges led to the project’s collapse in 2022, with a brief rebranding to Diem before being ultimately shut down.
Since then, Meta’s crypto strategy has remained ambiguous. The company’s 2021 rebrand to Meta was driven by its vision for the metaverse, but recent years have seen a shift in focus toward artificial intelligence and defense applications. Earlier in 2025, Meta announced a partnership with defense firm Anduril to develop AI-driven augmented reality gear for the U.S. military, repurposing some of its metaverse technologies for defense use.
Despite these pivots, reports have surfaced that Meta is still exploring the use of stablecoins for managing payments across its suite of apps. However, the company’s leadership has shown little appetite for the kind of direct financial risk that a Bitcoin treasury allocation would entail.
The Bigger Picture: Corporate Bitcoin Adoption Still Rising
Although Meta’s shareholders have decisively rejected the Bitcoin treasury proposal, the broader trend of corporate Bitcoin adoption continues to gain momentum. Recent entrants to the list of public companies holding Bitcoin include GameStop and Swedish health tech firm H100, both of which made their first Bitcoin purchases in the past month. MicroStrategy remains the largest corporate holder, with over 580,000 BTC valued at approximately $61 billion.
The rationale for these moves often mirrors the arguments made by Peck: Bitcoin’s fixed supply and decentralized nature make it an appealing hedge against inflation and currency debasement, especially in an era of expansive monetary policy.
Why Shareholders Are Reluctant
Despite the growing list of corporate adopters, most large-cap tech firms remain wary. The primary reasons include:
- Risk Aversion: Shareholders and boards of major tech companies prioritize capital preservation and steady growth over speculative bets.
- Opportunity Cost: Allocating billions to Bitcoin could mean less capital available for research, development, acquisitions, or other strategic investments.
- Reputational Risk: The association with a volatile and sometimes controversial asset class could invite unwanted scrutiny from regulators, investors, and the public.
Looking Ahead: What’s Next for Meta and Corporate Crypto?
Meta’s overwhelming rejection of the Bitcoin treasury proposal is a clear signal that, for now, the world’s largest tech companies are not ready to embrace cryptocurrencies as core reserve assets. However, the conversation is far from over. As regulatory frameworks evolve and the crypto market matures, it’s possible that more companies will revisit the idea of diversifying their treasuries with digital assets.
For Meta, the focus remains on artificial intelligence, augmented reality, and other emerging technologies. The company’s $72 billion cash war chest will likely continue to be managed through traditional means—at least until the risk-reward calculus for Bitcoin and other cryptocurrencies changes in a meaningful way.
The resounding defeat of the Bitcoin treasury proposal at Meta highlights the current limits of crypto adoption in the upper echelons of corporate America. While Bitcoin continues to gain ground as a reserve asset among some public companies, the world’s tech giants are not yet ready to follow suit. For now, Meta’s shareholders—and its leadership—are content to watch the crypto revolution from the sidelines, choosing stability and predictability over volatility and speculation.
