Meta won’t buy Bitcoin as shareholders knock back treasury idea
Meta shareholders shut down a proposal to assess whether Bitcoin should be added to its balance sheet, with just 0.08% of votes in favor of the idea.
Meta shareholders have overwhelmingly rejected a proposal to assess whether the tech giant should add Bitcoin to its balance sheet.
A “Bitcoin treasury assessment” proposal put before shareholders received 3.92 million votes in favor — a mere 0.08% of the total — while nearly 5 billion voters decided against the measure, a May 28 regulatory filing shows.
Meta CEO Mark Zuckerberg controls 61% of the company’s voting power, according to an April regulatory statement, which could indicate that he voted against the proposal.