Only 0.1% of Meta’s shareholders supported a proposal to include Bitcoin in the company’s treasury, aligning the tech giant with Amazon and Microsoft, which have made comparable choices. Here’s how investors are reacting.
Meta’s shareholder vote firmly rejected the proposal to add Bitcoin (BTC) to its balance sheet, mirroring decisions made by Microsoft and Amazon. As detailed in an SEC filing, only 0.1% of shareholders supported the idea, while 95% opposed it. To some observers, this outcome indicates that major tech companies remain hesitant or behind in embracing Bitcoin adoption.
Matthew Sigel, head of digital asset research at VanEck, is among those who believe tech companies are overlooking a significant opportunity. He noted that Meta’s substantial cash holdings already carry an element of speculation. Should the U.S. dollar decline in value, those reserves would be negatively affected—whereas Bitcoin could offer a viable means of diversification.
They are already hoarding fiat with $30B in cash, up from $12B in 2023.
Matthew Sigel, VanEck.
Sigel recognized that Meta’s cash reserves represent only about 2% of its total market capitalization. However, he also emphasized that other corporations—such as Netflix, Google, and Verizon—maintain smaller reserve holdings, with some even operating under substantial debt levels.
Bitcoin Struggles to Gain Adoption Among Leading Corporations
Bitcoin has recently attracted renewed interest as a growing number of companies have expanded their holdings. Among them is GameStop, which allocated $519 million into BTC. However, as several observers have noted, many firms making sizable Bitcoin investments often face challenges in their primary operations—GameStop included.
In numerous instances, companies appear to be banking on the speculative excitement surrounding Bitcoin to drive up their stock value. However, for GameStop, the boost proved short-lived, as its stock price dropped from a post-acquisition peak of $35.
For well-established companies like Meta, Bitcoin presents a less attractive investment option. Major Meta stakeholders—including financial powerhouses such as BlackRock, Vanguard, and Fidelity—rely on conventional risk management strategies, which they view as adequate. In contrast, Bitcoin continues to be perceived as a high-risk asset, making it less appealing for long-term holding.
