Meta Faces Call for Bitcoin Adoption to Multiply the Treasury.
A shareholder in social media giant Meta has proposed a bold change in the company's financial strategy, suggesting that bitcoin be treated as corporate treasury.
This move comes on the heels of similar proposals to major corporations such as Microsoft and Amazon, indicating a growing push for Bitcoin adoption among institutional players.
On January 10, Tim Kottman, a Bitcoin YouTuber, revealed that Meta shareholder Ethan Peck had proposed a proposal that would require the company to allocate a portion of its $72 billion cash reserves to Bitcoin.
“The shareholder, Ethan Peck, at the National Center for Public Policy Research — the organization that represented MSFT and AMZN — informed me that he had filed on behalf of his family's shares,” Kottman added.
On the proposal, Peck raised concerns that it would erode the value of holdings of meta-cash. Bitcoin's strong performance compared to traditional assets, he argued, provides a hedge against inflation while boosting shareholder value.
Peck cited Bitcoin's impressive gains, citing a 124% increase in 2024 and a 1,265% growth in five years. These figures are much higher than the modest yields of bonds and other traditional financial instruments.
It also highlighted Meta's indirect exposure through BlackRock, the company's second-largest institutional investor, which approved a 2% Bitcoin allocation to corporates. BlackRock is the largest Bitcoin exchange-traded fund (ETF) issuer in the US.
Meanwhile, the proposal has sparked discussions in the crypto and corporate communities. Bitwise's Jeff Park speculates that Meta CEO Mark Zuckerberg's skepticism toward traditional systems may be compatible with Bitcoin's decentralized ethos.
“If Zuk understands this in his 2020–2024 experience, he can become a major force in the crypt. Pay attention — his next move could rewrite the meta playbook, Park said.
Of course, Zuckerberg, who owns 13.5% of Meta's common stock and controls about 50% of the company's voting power, could play a big role in this decision.
What's more, Peck's proposal fits with a broader movement advocating for Bitcoin in corporate treasuries. A similar initiative is aimed at Microsoft and Amazon in 2024, although the results differ. Microsoft shareholders have rejected the proposal, citing Bitcoin's volatility, while Amazon has yet to act on the 5% allocation proposal.
Still, crypto advocates like Eric Voorhees believe that businesses stand to gain more from Bitcoin investments than governments. He argued that accepting bitcoin would not only preserve value but also allow companies to thrive in the increasingly digital economy.
“Let's advocate more for corporate treasuries buying bitcoin, and advocate for national governments that do. The ancients deserve it because they value it. The latter, unworthy, destroys it,” Voorhees wrote.
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