Meta Platforms Inc. shareholders have overwhelmingly rejected a proposal to allocate a portion of the company's treasury assets to Bitcoin. The initiative, which aimed to assess the viability of adding Bitcoin to Meta's balance sheet, garnered minimal support during the recent shareholder meeting.

The proposal received just 3.92 million votes in favor, representing a mere 0.02% of the total shares. In contrast, a staggering 11.6 billion votes were cast against the motion, underscoring the shareholders' reluctance to pursue cryptocurrency investments at this time.

This decision follows similar outcomes in other tech giants. For instance, Microsoft's shareholders previously voted down a comparable proposal, with only 0.55% support. These results indicate a consistent hesitancy among major technology firms to integrate Bitcoin into their corporate treasuries.

The rejected proposal was part of a broader movement advocating for corporate adoption of Bitcoin as a hedge against inflation and a means to diversify asset holdings. Proponents argue that Bitcoin's potential for high returns could benefit companies facing devaluation of cash reserves due to inflationary.

Despite these arguments, the overwhelming rejection by Meta's shareholders suggests a preference for traditional asset management strategies and a cautious approach toward the volatility and regulatory uncertainties associated with cryptocurrencies.

As the cryptocurrency market continues to…