Meta shareholders rejected a proposal to consider adding Bitcoin to the company’s balance sheet, according to Benzinga. A proposal for a “Bitcoin Treasury Assessment” received only 3.92 million votes in favor, representing about 0.1% of the total. A whopping 4.98 billion votes, or 95%, were cast against it during Meta’s annual shareholders meeting. The “Bitcoin Treasury Assessment" was introduced by Ethan Peck of the conservative think tank National Center for Public Policy Research. It suggested allocating a portion of Meta’s $72 billion cash reserves to Bitcoin as an “inflation-resistant store of value.” Peck is a deputy director at a U.S.-based conservative think tank and has also submitted similar Bitcoin investment proposals to Microsoft and Amazon.
