Meta shareholders rejected the Bitcoin plan with less than 1% in favour. The proposal called Bitcoin a hedge against inflation and weak bonds. GameStop and Metaplanet are among firms copying Saylor’s Bitcoin play.
They’re selling shares of their company, META stocks, to the shareholders that then vote on their liquidity portfolios. Not selling Crypto. Owners of a hypothetical META crypto don’t benefit from or have any say in how the company operates.
Alternatively to BTC 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.
Buying BTC doesn’t help them do that.
“our crypto is backed in value by bitcoin”
They’re selling shares of their company, META stocks, to the shareholders that then vote on their liquidity portfolios. Not selling Crypto. Owners of a hypothetical META crypto don’t benefit from or have any say in how the company operates.
Alternatively to BTC 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.