Meta Investors Overwhelmingly Reject Bitcoin Reserve Proposal With Just 0.1% Support

Benzinga

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.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Meta shareholders rejected a proposal to consider adding Bitcoin to the company's balance sheet,

00:06according to Benzinga.

00:07Proposal for a Bitcoin treasury assessment received only 3.92 million votes in favor,

00:12representing about 0.1% of the total.

00:15Co-opping 4.98 billion votes, or 95%, were cast against it during Meta's annual shareholders meeting.

00:21Bitcoin treasury assessment was introduced by Ethan Peck of the conservative think tank

00:25National Center for Public Policy Research.

00:27It suggested allocating a portion of Meta's $72 billion cash reserves to Bitcoin

00:32as an inflation-resistant store of value.

00:35Peck is a deputy director at a U.S.-based conservative think tank

00:37and has also submitted similar Bitcoin investment proposals to Microsoft and Amazon.

00:42For all things money, visit Benzinga.com slash GSTV.

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