Shareholders of Meta rejected a proposal to assess accumulating Bitcoin to the balance sheet.
Only 3.92 million votes were in favor of the 'Bitcoin Treasury Assessment' proposal, representing just 0.88% of the total. Approximately 5 billion voters opposed it.
Shareholder proposal by Bitcoin advocate Ethan Peck suggested Meta allocate some of its cash into Bitcoin to hedge against inflation, a proposal that was ultimately rejected.
Similar Bitcoin treasury proposals were made to Microsoft and Amazon, with Microsoft shareholders declining the proposal in December, while Amazon shareholders are yet to vote on it.