Meta won’t buy Bitcoin as shareholders knock back treasury idea

Meta won’t buy Bitcoin as shareholders knock back treasury idea

Meta won’t buy Bitcoin as shareholders knock back treasury idea

Meta shareholders shut down a proposal to assess whether Bitcoin should be added to its balance sheet, with just 0.08% of votes in favor of the idea.

Meta shareholders have overwhelmingly rejected a proposal to assess whether the tech giant should add Bitcoin to its balance sheet.

A “Bitcoin treasury assessment” proposal put before shareholders received 3.92 million votes in favor — a mere 0.08% of the total — while nearly 5 billion voters decided against the measure, a May 28 regulatory filing shows. 

Meta CEO Mark Zuckerberg controls 61% of the company’s voting power, according to an April regulatory statement, which could indicate that he voted against the proposal.

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