Shareholders of Meta Platforms have rejected a measure that encouraged the company to add Bitcoin (BTC) to its $ 72 billion cash pile, with 4.98 billion shares against and 3.92 million for the annual meeting of 30 May, axis Reports have surfaced.
Withdrawals amounted to 8.86 million shares, while brokers voted for 204.77 million shares. With less than 0.1% of the votes cast, the initiative was a good shortage of Passage.
The resolution, submitted by Ethan Peck of the National Center for Public Policy Research, asked Meta to offer “a contradiction at lower bond effectiveness” by converting a non -specified part of the surplus cash into Bitcoin.
Peck framed the assets as an inflation hedge and noted the price increase in 2024 compared to modest bond returns.
External lawyers pressed Zuckerberg
The mood followed on public lobbying of Strive Asset Management CEO Matt Cole, who called and encouraged Meta CEO Mark Zuckerberg during the Bitcoin Conference Mark ZuckerbergBold Corporate Bitcoin Treasury -approach‘And endorse a’ yes’ voice about proposal 13.
On the same day, Bloomberg Senior ETF analyst Eric Balchunas said that Meta could be the first American megacap that adds this cycle Bitcoin, suggesting that such a movement would indicate a broader acceptance of companies.
Previous attempts to leave Microsoft and Amazon shareholders in the direction of comparable steps have also failed, with the emphasis on the proponents of the obstacles that Bitcoin proponents are confronted with focusing companies with a large cap with conventional treasury frameworks.
The mood leaves the treasury of Meta unchanged, but it confirms that crypto proponents will probably continue to press on American blue chip boards to re-visualize the Digital-Aseset policy as the clarity of the regulations improves.
The META shareholders reject Bitcoin Treasury bid in landsguivings voice first appeared on CryptoSlate.
