Meta’s Hilarious Rejection of Bitcoin: The Drama Unfolds! 😂

by

So, Meta Platforms, the big boss of Facebook and Instagram, just threw a massive “no thanks” to the idea of stuffing their corporate piggy bank with Bitcoin. Shocking, right? 🙄

This little stunt shows that Big Tech is still playing it safe, despite everyone and their grandma getting excited about cryptocurrencies. Who knew caution could be so trendy?

Meta Slams the Door on Bitcoin Like It’s an Ex

According to some juicy documents shared on X (not to be confused with the letter X, which is just confusing), the shareholder motion got a whopping 3.9 million votes in favor. But wait for it… over 4.9 billion said “nope!” Another 8.9 million shares decided to sit this one out, and 205 million were like, “I can’t even.” 🤷‍♀️

This whole fiasco follows a proposal from Ethan Peck, a shareholder who clearly has a flair for the dramatic. He wanted Meta to swap some of its cash and bonds for Bitcoin, claiming it could outshine traditional investments. Bold move, Ethan! 💪

But Meta’s board was like, “Nah, we’re good,” even before the vote. They insisted their treasury management is already top-notch. Because who needs Bitcoin when you have spreadsheets, right?

They did say they’re not completely shutting the door on digital assets, just giving Bitcoin the cold shoulder for now. It’s not you, Bitcoin; it’s us. 😬

“While we are not opining on the merits of cryptocurrency investments compared to other assets, we believe the requested assessment is unnecessary given our existing processes to manage our corporate treasury,” Meta’s board stated. Classic corporate speak! 🙄

But hold your horses! Meta isn’t totally against blockchain technology. Rumor has it they’ve been chatting with crypto firms about a potential stablecoin to help with global payments. So, there’s that! 💸

Meanwhile, this vote wraps up months of speculation that Meta might follow in the footsteps of companies like Strategy, which has been hoarding Bitcoin like it’s the last cookie in the jar. 🍪

Meta’s decision also mirrors the recent “no thanks” from Amazon and Microsoft, who also turned down similar proposals. It’s like a tech company rejection party, and everyone’s invited! 🎉

Some of the buzz around Meta came from CEO Mark Zuckerberg’s quirky connection to crypto culture, including the fact that one of his goats is named Bitcoin. Yes, you read that right. A goat! 🐐

Analysts had even speculated that if Meta or Microsoft jumped on the Bitcoin bandwagon, it would be a game-changer. Kind of like when Tom Hanks got COVID—suddenly, it felt real, even though it was already happening. Thanks for the reality check, Tom! 😷

“If a Meta or Microsoft adds BTC to its balance sheet, it will arguably have a bigger impact than all the smaller companies doing it. Kinda like when Tom Hanks got COVID, which made it feel real even though the cases had already been mounting,” Bloomberg ETF analyst Eric Balchunas explained. Deep thoughts, Eric! 🤔

As of May 2025, over 85 public companies are hoarding more than 804,000 BTC, according to Hodl15Capital. Strategy is leading the pack with over 580,000 BTC. Talk about a Bitcoin buffet! 🍽️

Read More

2025-05-31 15:26