Meta's Bitcoin holding proposal overwhelmingly rejected... Shareholders say there is no reason to change financial strategy

Meta shareholders overwhelmingly rejected a proposal to evaluate whether to include Bitcoin in the company's financial strategy.
According to Cointelegraph on the 2nd (local time), Meta will be released on May 28th.
In the public announcement documents released, it was revealed that the proposal received only 3.92 million votes in favor, which was just 0.08% of the total votes, while the number of votes against reached approximately 5 billion.
The proposal was made by Bitcoin advocate Ethan
Peck filed the filing in January, detailing Meta's $72 billion holdings.
He argued that a portion of the total cash and cash equivalents (approximately 1 trillion yen) should be invested in Bitcoin. He said, "Cash will continue to decline in value, and the return on assets will be lower than the actual interest rate.
"The rate is lower than the inflation rate, which is reducing shareholder value," he said, presenting Bitcoin as a hedge against inflation.
He is Bitcoin director at asset management company Strive and a conservative think tank.
He submitted the proposal in his capacity as a representative of the National Center for Public Policy Research (NCPPR), a research institute that provides public policy and policy advice to companies. He had previously submitted similar proposals to Microsoft and Amazon, which had agreed to a deal with the company last year.
After rejecting the proposal in February, Amazon is now facing a vote on whether to invest a minimum of 5% of its assets in Bitcoin.
Zuckerberg holds 61% of the total voting power, so his dissenting vote is seen as having had a decisive influence.
Compared to Bitcoin's high volatility, he believes it would be a better choice to use the funds for research and development and acquisitions.
Nick Cowan, CEO of fintech company Valereum, said, "Some companies, like Amazon, are open to new technologies, but shareholders are
"From my perspective, real growth is a more important factor than volatile assets," he said. On the other hand, unlike Meta and Microsoft's negative stance,
The number of listed companies incorporating Bitcoin is steadily increasing. According to BitcoinTreasuries.net, 116 listed companies around the world hold Bitcoin, and recently the number of listed companies in the Game Exchange has increased.
Other new entrants include H100, a Swedish health tech company, and MicroStrategy, which holds 582,500 BTC.
Eight companies, including Arathon Digital Holdings and Tesla, each hold more than $1 billion (about 142.8 billion yen) in Bitcoin.