- Meta shareholders voted against the proposal to consider bitcoin treasury strategy.
- About 95% of the shareholders voted against the idea, with less than 1% turnout in favor of Bitcoin Treasury.
- Meta reported 3.6% that it is planned to run a fully AI-operated advertising engine.
According to filing with the Meta (META) shareholders with the Securities and Exchange Commission (SEC), with more than 95% polling against the idea, the proposal to adopt bitcoin as a treasury asset, opposed the proposal. Meanwhile, its share price increased by 3.6%, which reported that it is planned to run a fully automated Artificial Intelligence (AI) advertising engine by 2026.
Meta shareholders oppose the establishment of Bitcoin Treasury
The meta platform will not buy bitcoin immediately after the Bitcoin treasury’s idea is heavyly rejected by its shareholders, according to the filing with SEC.
At an annual meeting of shareholders held on Wednesday, the meta shareholders voted against a proposal, which would have allowed the company to include bitcoins in its balance sheet.
The votes included 3.9 million in favor of bitcoin treasury evaluation – less than 1% – and 4.9 billion votes – about 95% – against it. This connects the story of large tech companies that refuse to adopt bitcoin as part of their treasury.
The proposal was submitted by Ethan Peck, a shareholder of the National Center for Public Policy Research, which is emphasizing large firms to invest in bitcoin.
Peck cited a fixed supply of bitcoin and better long -term performance compared to the bond and referred to the clear interest of the Meta officials in Bitcoin.
The proposal of Peck was similarly rejected by Microsoft, whose shareholders refused to adopt the bitcoin treasury strategy in December. During a presentation, the company’s rejection came amid the effort of Michael Sayler, CEO of the strategy to explain the long -term value board of bitcoin.
Rejection from large tech companies like Meta and Microsoft may indicate that these firms have yet to look at BTC as an essential reserve assets against their cash holdings.
Conversely, firms like strategy and gamestop are already adding bitcoins to their balance sheet, which are highlighting the growing position of bitcoin among this class of investors.
Following the Wall Street Journal report, Mata jumped 3.6% on Monday that the company plans to run a fully automated AI advertisement engine by 2026.
