Overview

• At Meta’s May 28 annual meeting, 4.98 billion votes opposed assessing Bitcoin as part of the company’s treasury compared with just 3.92 million in favor.
• The proposal, submitted by shareholder Ethan Peck in January, recommended shifting a portion of Meta’s $72 billion cash and equivalents into Bitcoin as an inflation hedge.
• Meta’s board deemed the requested assessment unnecessary, citing its established audit and risk oversight committee and existing treasury management framework.
• BlackRock, Meta’s second-largest institutional investor, had advised that a 2 percent allocation to Bitcoin would be reasonable for diversification.
• The vote mirrors Microsoft’s December 2024 rejection of a similar plan and arrives as Meta continues exploring blockchain initiatives, including stablecoin-based payments.