Meta's Shareholders Give Bitcoin a Hard Pass: Only 0.1% Say Yes

Whoa, talk about a slap in the face for Bitcoin fans! Meta's shareholders just crushed a proposal to stash some BTC in their treasure chest, with a measly 0.1% giving it the green light. It's like Amazon and Microsoft before them - these tech giants ain't biting the Bitcoin bait.

Meta's investors ain't playing around. A whopping 95% shot down the idea of adding Bitcoin to their balance sheet. According to the SEC's latest drop, it's clear as day that tech companies are still dragging their feet when it comes to embracing the king of crypto.

But not everyone's cool with this move. Matthew Sigel, the big brain behind digital assets at VanEck, is calling it a major fumble. He's saying that Meta's sitting on a mountain of cash that's just as risky as any other investment. If the dollar tanks, so does their cash pile. Bitcoin? That could be their golden ticket to mix things up a bit.

"They're hoarding $30 billion in cash like it's going out of style, up from $12 billion last year," Sigel drops the bomb.

Yeah, that's just 2% of Meta's total value, but get this - other big names like Netflix, Google, and Verizon? They're holding less and some are even drowning in debt.

Bitcoin Struggles to Win Over the Big Dogs

Bitcoin's been making waves lately, with more companies jumping on the bandwagon. Take GameStop, for example - they went all in with a cool $519 million in BTC. But here's the kicker: the companies going big on Bitcoin? They're usually the ones struggling to keep their core business afloat. GameStop? No different.

It's like these companies are crossing their fingers, hoping that the hype around Bitcoin will pump up their stock prices. But for GameStop, it was a flash in the pan. Their shares shot up to $35 right after the buy, only to come crashing down.

For the heavy hitters like Meta, Bitcoin's just not cutting it. Their investors - the big shots at BlackRock, Vanguard, and Fidelity - are sticking to the tried-and-true risk management playbook. Bitcoin? Too wild of a ride for their taste.