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Highlights
- Meta shareholders rejected Proposal 13 with 4.98B votes against and just 3.92M in favor.
- Less than 0.1% of Meta shares backed adding Bitcoin to its reserves.
- Microsoft, Amazon and Meta have now dismissed Bitcoin treasury strategies.
Meta Platforms Inc. shareholders have overwhelmingly voted down a proposal to allocate part of the company’s cash reserves into Bitcoin. The vote took place during Meta’s annual shareholder meeting on May 30, 2025.
Meta Shareholders Vote No on Bitcoin Treasury Plan
According to the official vote tally, over 4.98 billion shares were cast against the proposal, while only around 3.92 million were in favor. About 8.86 million shares were marked as abstentions, and brokers withheld over 204.77 million shares from the vote.
The shareholder resolution, labeled Proposal 13, called on Meta to consider converting some of its $72 billion in cash holdings into Bitcoin. The proposal was introduced by Ethan Peck from the National Center for Public Policy Research. He argued that Bitcoin could serve as a hedge against inflation and lower bond yields, pointing to Bitcoin’s performance in 2024 compared with traditional fixed-income assets.
Despite these arguments, fewer than 0.1% of total shares were voted in favor. This outcome means Meta’s treasury strategy remains unchanged, sticking with traditional asset management approaches.
Meta Public Push from Bitcoin Advocates
The vote followed a public campaign led by Matt Cole, CEO of Strive Asset Management. Speaking from the Bitcoin 2025 conference in Las Vegas, Cole urged Meta CEO Mark Zuckerberg to adopt a corporate Bitcoin reserve strategy. He argued that cash and short-term assets were losing value daily due to what he called a “global fiat debt crisis.”
“You have already done step one. You have named your goat Bitcoin,” said Cole during his speech. “My ask is that you take step two and adopt a bold corporate Bitcoin treasury strategy.”
His remarks received attention on social media and in crypto-focused news outlets. Supporters claimed that Bitcoin adoption could future-proof Meta’s treasury and align it with financial innovation trends. However, those arguments failed to influence institutional investors and the broader shareholder base.
Comparison with Other Tech Firms
Meta is not the first tech company to face such a proposal. Microsoft shareholders also rejected a similar initiative in December 2024. That resolution called for the company to consider Bitcoin as a treasury asset, but it did not pass due to risk concerns and regulatory uncertainties.
Large-cap firms have been cautious in adopting digital assets for their balance sheets. While smaller companies have added Bitcoin in recent years including Michael Saylor led Strategy, major corporations like Microsoft and Amazon have remained conservative and Meta now joining the list. Analysts believe this may change if a top-tier firm takes the first step, but for now, the resistance remains strong.
Bloomberg analyst Eric Balchunas commented on X, saying it might take a large firm like Meta or Microsoft to make Bitcoin appear more legitimate to corporate America.
“If Meta or Microsoft adds BTC to the balance sheet, it will be like when Tom Hanks got COVID—suddenly, it feels real,” he said.
2025 Bitcoin Conference Statements and Outlook
At the same Bitcoin conference, political and financial leaders also discussed broader adoption. Reform UK leader Nigel Farage said his party would propose a Bitcoin reserve strategy at the Bank of England.
Michael Saylor, a vocal Bitcoin supporter, endorsed this idea and urged companies to view Bitcoin as a core treasury asset.
Despite growing advocacy from public figures and Bitcoin-focused firms, shareholder votes like Meta’s suggest continued caution. Regulatory clarity and broader market trends may shape future decisions, but for now, large companies appear hesitant.
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