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U.Today – Mark Zuckerberg, who famously named his pet goat, proposed to add Bitcoin to Meta (Facebook) assets.
According to podcaster and CEO of Jubilee Royalty Tim Kotzman, a Bitcoin Treasury Shareholder Proposal has been submitted by Meta Platforms Inc (NASDAQ: ), marking a significant development in the adoption of Bitcoin as a corporate asset.
The proposal was filed by Ethan Peck, an employee of The National Center for Public Policy Research, on behalf of his family. This initiative follows similar proposals submitted to the organization by technology giants such as Microsoft (NASDAQ: ) and Amazon (NASDAQ: ).
The proposal likely advocates for Meta to consider adding Bitcoin to its corporate treasury, which is in line with the growing trend of institutional adoption of cryptocurrencies. If successful, this move could further strengthen Bitcoin’s role as a primary financial asset and a hedge against inflation.
The shareholder proposal submitted by Meta presents a compelling argument for the company to explore adding Bitcoin to its corporate treasury.
Ethan Peck, in his supporting statement, outlined the challenges of holding large cash reserves and bonds in an inflationary environment, noting that these assets reduce shareholder value over time.
He emphasized Bitcoin’s superior long-term performance as an inflation-resistant store of value, citing its 124% increase in 2024 and a staggering 1,265% increase over the past five years. year, which is more than traditional bonds.
Peck also highlighted the alignment of Bitcoin adoption with Meta’s innovative ethos, referring to Mark Zuckerberg’s symbolic naming of his goats, “Bitcoin” and “Max,” as well as Meta director Marc Andreessen’s favorable stance on cryptocurrencies.
He emphasized that large institutional investors, such as BlackRock (NYSE:), promote modest allocations to Bitcoin, arguing that the same strategy could benefit Meta shareholders.
Peck drew attention to broader trends in Bitcoin adoption, including the rapid growth of BlackRock’s Bitcoin ETF, corporate treasury strategies like MicroStrategy and potential government reserves.
The proposal calls on the Meta board to conduct an evaluation of Bitcoin as a treasury asset, positioning it as an opportunity for Meta to remain a leader in forward-thinking asset management.
This approach, he argued, would honor the company’s tradition of setting technological and financial trends, rather than simply following them.
MicroStrategy is still buying Bitcoin
MicroStrategy continues to strengthen its position as the largest corporate holder of Bitcoin, recently acquiring an additional 1,070 BTC for $101 million, according to a regulatory filing.
This marks the company’s ninth consecutive weekly Bitcoin purchase announcement, bringing its total holdings to an incredible 447,470 BTC, which is now worth $44.3 billion.
MicroStrategy has ambitious plans to raise $2 billion through a preferred stock offering, potentially fueling further Bitcoin acquisitions.
With a market capitalization of $93 billion, MicroStrategy now ranks as the 99th largest company in the US, jumping 16 spots in one day. It also became the third most traded equity on Monday, trailing Tesla (NASDAQ: ) and Nvidia (NASDAQ: ).
