U.Today – Mark Zuckerberg, who famously named his pet goat, has been suggested to add Bitcoin to his Meta (Facebook) holdings.
According to podcaster and CEO of Jubilee Royalty Tim Kotzman, the Bitcoin Treasury Shareholder Proposal has been submitted to Meta Platforms Inc (NASDAQ: ), marking a significant development in the adoption of Bitcoin as a corporate asset.
The proposal was submitted by Ethan Peck, an employee of the National Center for Public Policy Research, on behalf of his family’s shares. The initiative follows similar proposals the organization has submitted to tech giants like Microsoft (NASDAQ: ) and Amazon (NASDAQ: ).
The proposal likely advocates for Meta to consider adding Bitcoin to its corporate treasury, aligning with the growing trend of institutional adoption of cryptocurrencies. If successful, the move could further solidify Bitcoin’s role as a major financial asset and hedge against inflation.
The shareholder proposal submitted to Meta makes a compelling case for the company to explore the possibility of adding Bitcoin to its corporate treasury.
Ethan Peck, in his accompanying statement, highlights the challenges of holding large cash reserves and bonds in an inflationary environment, noting that these assets reduce shareholder value over time.
It highlights Bitcoin’s superior long-term performance as an inflation-proof store of value, citing its 124% rise in 2024 and a staggering 1,265% rise over the past five years, vastly outperforming traditional bonds.
Peck also emphasizes the alignment of Bitcoin adoption with Meta’s innovative ethos, citing Mark Zuckerberg’s symbolic naming of his goats, “Bitcoin” and “Max,” as well as Meta CEO Marc Andreessen’s favorable view of cryptocurrencies.
He points out that large institutional investors, such as BlackRock (NYSE: ), are advocating modest Bitcoin allocations, arguing that a similar strategy could benefit Meta shareholders.
Peck draws 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 for Meta’s 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 argues, would respect 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 owner of Bitcoin, recently acquiring an additional 1,070 BTC for $101 million, according to a regulatory filing.
This is the company’s ninth consecutive weekly announcement of Bitcoin purchases, bringing its total holdings to a whopping 447,470 BTC, currently valued at $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 is now ranked as the 99th largest US company, jumping 16 places in one day. It also became the third most traded stock on Monday, behind Tesla (NASDAQ: ) and Nvidia (NASDAQ: ) .
