Meta, Amazon and Microsoft Shareholders All Overwhelmingly Reject Strategic Bitcoin Reserve

Globe and Mail

2 days ago

In the latest blow to Bitcoin maximalists, Meta Platforms (META) shareholders have delivered a decisive rebuke to the idea of adding Bitcoin (BTCUSD) to the company's treasury, with more than 99% voting against a proposal to even assess such a move. This landslide rejection stands in stark contrast to the high-profile strategies of firms like MicroStrategy (MSTR), Trump Media (DJT), and GameStop (GME), and raises critical questions about the prevailing narrative that U.S. corporations are eager to adopt Bitcoin as a reserve asset.
Meta's Bitcoin Proposal: The Details and the Vote
At Meta's 2025 annual shareholder meeting, a resolution was introduced by Ethan Peck of the National Center for Public Policy Research, urging the company to consider converting part of its $72 billion cash pile into Bitcoin. Proponents argued that Bitcoin's fixed supply and outperformance of bonds in recent years made it a superior long-term store of value, especially amid concerns about inflation and declining bond yields.
Despite vocal support from some Bitcoin advocates — including public lobbying from Strive Asset Management CEO Matt Cole at the Bitcoin 2025 conference — the proposal received less than 0.1% support, with 4.98 billion shares voted against and just 3.9 million in favor. The initiative was a very deep last among 14 proposals on Meta's ballot, and the board had already recommended against it, citing robust existing treasury management practices and no compelling reason to consider Bitcoin at this time.
MicroStrategy's Outlier Approach
The result at Meta highlights just how much of an outlier MicroStrategy remains in the corporate world. Led by Michael Saylor, MicroStrategy has aggressively accumulated Bitcoin as a primary treasury asset, often touting it as a superior alternative to cash and bonds. This approach has attracted significant media attention and inspired a narrative that other major corporations might soon follow suit.
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However, the Meta vote — and similar rejections at Microsoft (MSFT) and Amazon (AMZN) — suggests that such a strategy is far from mainstream among large U.S. blue-chip companies. While MicroStrategy's Bitcoin-centric approach has been profitable and headline-grabbing, it is not representative of broader corporate sentiment.
Why the Pushback?
Several factors help explain why Meta's shareholders and board were so firmly opposed:
Volatility and Risk: Bitcoin remains highly volatile compared to traditional treasury assets. For companies with massive cash reserves and global operations, this unpredictability is a major deterrent.
Regulatory Uncertainty: The lack of clear, consistent regulation around digital assets adds another layer of risk for public companies. While it has improved in 2025, uncertainty still remains.
Core Business Focus: Shareholders and boards of major tech firms like Meta prioritize stability and predictability, especially in a rapidly evolving industry. Diverting attention and resources to speculative assets is seen as a distraction from core business objectives.
Shareholder Conservatism: The overwhelming vote against the proposal reflects a broader preference among institutional investors for traditional, proven treasury management practices.
The Bigger Picture: Bitcoin Treasuries Remain the Exception, Not the Rule
Meta's resounding rejection means that, despite the vocal advocacy from some corners of the crypto world, the idea of widespread corporate Bitcoin treasuries is more hype than reality. The narrative that U.S. tech giants are on the verge of following MicroStrategy's lead is not supported by shareholder sentiment or boardroom decision-making at the largest firms.
While some companies may continue to experiment at the margins, the overwhelming trend among major corporations is to stick with conservative, traditional treasury strategies—at least until regulatory clarity improves and digital assets demonstrate a more stable risk profile.
Conclusion
Meta's shareholder vote is a clear signal: for now, the world's largest corporations are not rushing to adopt Bitcoin as a core treasury asset. The MicroStrategy playbook remains an outlier, and the narrative of a corporate Bitcoin gold rush is, at best, premature. Instead, blue-chip companies are prioritizing stability, regulatory compliance, and their core business missions over speculative crypto bets.