Shareholders of Meta rejected a proposal to add Bitcoin to the company's balance sheet with a large majority opposing it.
The proposal suggested converting a portion of Meta's $72 billion cash reserves into Bitcoin for potential long-term value preservation.
The proposal was put forward by Ethan Peck from NCPPR, highlighting Bitcoin's fixed supply and past performance compared to bonds as reasons for consideration.
Despite rejecting the Bitcoin treasury proposal, over 115 public companies globally have added Bitcoin to their balance sheets, with notable examples like Tesla and GameStop.