Meta shareholders overwhelmingly reject Bitcoin fiscal strategy proposal, with only 0.08% in favor

Mars Finance News: According to SEC documents dated May 28, Meta shareholders overwhelmingly rejected a proposal to allocate part of its $72 billion cash to Bitcoin, with nearly 50 million votes against and only 3.92 million votes in support. The proposal was initiated by Bitcoin advocate Ethan Peck, head of Bitcoin at Strive Asset Management, who had previously proposed similar motions to Microsoft and Amazon. Microsoft has already rejected the proposal, while Amazon has not yet voted. Peck advocates for using Bitcoin as a strategic reserve asset to address monetary policy uncertainty. Although Meta previously explored the blockchain project Libra (later renamed Diem and subsequently closed), the company's stance on crypto assets remains unclear. Earlier this year, reports suggested that Meta was exploring the use of stablecoins to manage payments between applications. (CoinDesk)