Investors are not on board! Meta shareholders overwhelmingly reject the Bitcoin financial reserve proposal.

As more and more companies around the world follow in the footsteps of MicroStrategy ( now known as Strategy), incorporating Bitcoin into their corporate asset allocation, Meta investors have drawn a clear line on this. At the recent annual shareholder meeting, Meta shareholders overwhelmingly voted down a proposal urging the company to consider a Bitcoin reserve strategy, highlighting the caution and conservatism of tech giants in embracing encryption assets.

Voting results revealed: Nearly 5 billion votes against, proposal received a cold shoulder.

According to the documents submitted by Meta to the United States Securities and Exchange Commission (SEC), the proposal was put forward by Bitcoin advocate Ethan Peck, calling for the company to convert part of its $72 billion in cash and cash equivalents into Bitcoin as a strategic reserve asset to address inflation and uncertainty in monetary policy.

Proposal voting content

However, out of nearly 5 billion shares voted, only 3.91 million shares were in favor, accounting for only 0.08%, which is almost equivalent to a unanimous rejection, indicating that Meta shareholders still have deep concerns about involvement in highly volatile assets.

Proposal behind the scenes promoter: Ethan Peck continues to advocate

Ethan Peck is the Bitcoin director at the asset management company Strive, and he is submitting a proposal on behalf of the conservative think tank "American Public Policy Research Center (NCPPR)". Peck has made the same claims not only against Meta, but also towards Microsoft and Amazon, attempting to push major tech companies to incorporate Bitcoin into their asset structures.

(Meta shareholders are calling on Zuckerberg to allocate part of the funds as Bitcoin reserves: a16z is already supporting Bitcoin, what are you still thinking about?)

Despite Microsoft shareholders voting against this last year, Peck's strategy clearly does not intend to stop, and Amazon's related proposals are still pending further votes.

From Libra to Stablecoin Payments: Meta's Love-Hate Relationship

Although Meta has not included any encryption assets in its balance sheet, the company has previously explored blockchain applications actively. The Libra project, launched in 2019 and later renamed Diem(, originally aimed to create a global stablecoin backed by multiple fiat currencies, but was announced to be terminated in 2022 due to regulatory hurdles and internal disputes.

Even so, Meta still seems to have an interest in this. Earlier this year, it was reported that the company is still researching how to integrate payment mechanisms for its applications such as Instagram or WhatsApp) through stablecoins. However, compared to other companies that actively purchase encryption assets, Meta's pace appears to be more cautious.

(Rumors of Meta making a comeback? Three years later, revisiting the stablecoin deployment plan, the Libra/Diem ambition resurfaces)

Is encryption strategic reserve becoming a trend for enterprises?

Despite Meta's conservative attitude, the market atmosphere seems to be moving in the opposite direction recently. Following Strategy's long-term large-scale purchases of Bitcoin, several listed companies have recently incorporated digital assets into their financial strategies:

Strive (, the organization of proposer Ethan Peck ), is aiming to acquire Bitcoin assets at a discount in relation to the claims of Mt. Gox, in order to strengthen its asset position.

DeFi Dev Corp: Acquired the verification node business of Solana, incorporating blockchain infrastructure into corporate asset allocation.

SharpLink Gaming: announced that it will allocate part of the company's funds into Ethereum (ETH) as a corporate reserve, with participation from crypto venture capital firms such as Consensys, ParaFi, Pantera, and Galaxy Digital.

(Strategy leads the trend, a detailed explanation of the Bitcoin reserve strategy company investment guide)

Conservatism of Tech Giants vs. Radicalism of Market Experiments

Meta's recent shareholder vote symbolizes the caution that traditional tech giants maintain when venturing into encryption assets. At the same time, startups and aggressive companies are accelerating asset diversification, actively embracing on-chain assets and financial technology applications. The "new and old distinction" in corporate financial strategies may become increasingly evident in the coming years.

This article investors are not buying! Meta shareholders overwhelmingly rejected the Bitcoin financial reserve proposal first appeared in Chain News ABMedia.