Comment on Meta shareholders overwhelmingly rejected a proposal to explore adding Bitcoin to the company's treasury, with less than 1% voting in favor of the measure

• Knock_Knock_Lemmy_In@lemmy.world ⁨4⁩ ⁨days⁩ ago

  That was called Libre

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• finitebanjo@lemmy.world ⁨4⁩ ⁨days⁩ ago

  Buying BTC doesn’t help them do that.

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  • Saleh@feddit.org ⁨4⁩ ⁨days⁩ ago

    “our crypto is backed in value by bitcoin”

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    • finitebanjo@lemmy.world ⁨4⁩ ⁨days⁩ ago

      1. They’re selling shares of their company, META stocks, to the shareholders that then vote on their liquidity portfolios. Not Crypto. Owners of a hypothetical META crypto don’t benefit from or have any say in how the company operates.

      2. Alternatively they could spend that money on holding their own hypothetical crypto so as to create market cap and buy/sell volumes appealing to crypto investors.

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