Meta Platforms’ shareholders voted against a plan to see if the company should hold Bitcoin as part of its cash reserves. Nearly 9 million shares were abstentions, and almost 205 million shares counted as broker non-votes. The vote happened at the company’s annual meeting this week. Short of support, the proposal failed to move forward.
Shareholders Reject Bitcoin Proposal
According to public filings, investor Ethan Peck of the National Center for Public Policy Research asked Meta to study whether swapping some of its $72 billion in cash, cash equivalents, and marketable securities for Bitcoin could help protect value.
Peck pointed out that inflation and low returns on bonds have been eroding the company’s cash hoard. He noted that Bitcoin’s fixed supply and past price gains might offer a hedge. Some shareholders voted in favor, but most sided with the company’s board.
Meta Platforms Shareholders Vote Against Bitcoin Treasury Assessment Proposal pic.twitter.com/ZeIrUHq2OK
— Phoenix » PhoenixNews.io (@PhoenixNewsIO) May 30, 2025
Board Cites Solid Treasury Management
Based on reports, Meta’s directors said there was no need for a separate Bitcoin study. They argued that the company already has a plan to keep its cash safe.
Meta’s leaders wrote that they review many kinds of investments on a regular basis to ensure they have enough liquid funds for operations. They did not comment on whether Bitcoin was a good or bad choice. Instead, they said their existing process meets all their needs.
Push For Corporate Bitcoin Falls Short
The National Center for Public Policy Research has tried similar pushes at Microsoft and Amazon. Microsoft shareholders in December 2024 rejected a proposal to put Bitcoin on the balance sheet.
Amazon faced a comparable idea but did not act on it. Even when some tech leaders make hints—Mark Zuckerberg named his goats “Bitcoin” and “Max,” and board member Marc Andreessen sits on Coinbase’s board—big firms remain cautious. They worry about price swings and extra rules that come with owning cryptocurrency.
Meta Shifts Focus To Stablecoin
Rather than buy Bitcoin, Meta now seems more interested in stablecoins. Based on reports, the company is in talks with crypto infrastructure partners about using a stablecoin for global payouts. This would let Meta send money faster and cheaper across borders.
It also marks a return to crypto efforts after Meta closed its Diem project. Back in 2022, Diem was shelved amid US regulatory pushback. Meta’s new moves suggest it wants a piece of payments tech, but without the wild price swings of Bitcoin.
For now, Bitcoin will not sit on Meta’s balance sheet. Some public companies like Tesla and Strategy have placed big bets on Bitcoin. Meta’s board, however, prefers a more traditional treasury setup. By leaning toward stablecoins, they show they want speed and stability over the dramatic ups and downs of crypto.
Featured image from Unsplash, chart from TradingView
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