PakGazette – Mark Zuckerberg, who famously named his pet goat, was approached to add Bitcoin to Meta’s (Facebook) holdings.
According to podcaster and Jubilee Royalty CEO Tim Kotzman, a Bitcoin Treasury shareholder proposal has been submitted to Meta Platforms Inc (NASDAQ:), marking significant progress in the adoption of Bitcoin as a corporate asset.
The proposal was filed by Ethan Peck, an employee at the National Center for Public Policy Research, on behalf of his family’s actions. This initiative follows similar proposals presented by the organization to technology giants such as 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 cryptocurrency adoption. If successful, this move could further solidify Bitcoin’s role as a primary financial asset and hedge against inflation.
The shareholder proposal presented to Meta presents a compelling argument for the company to explore the possibility of adding Bitcoin to its corporate treasury.
Ethan Peck, in his supporting statement, describes the challenges of holding large reserves of cash and bonds in an inflationary environment, noting that these assets are diminishing value for shareholders over time.
He highlights Bitcoin’s long-term outperformance as an inflation-resistant store of value, citing its 124% rise in 2024 and a staggering 1,265% rise over the past five years, far outperforming traditional bonds.
Peck also highlights the alignment of Bitcoin adoption with Meta’s innovative spirit, referencing Mark Zuckerberg’s symbolic names for his goats, “Bitcoin” and “Max,” as well as Meta director Marc’s favorable stance. Andreessen, on cryptocurrencies.
He underlines that major institutional investors, such as BlackRock (NYSE:), advocate for 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’s, and potential government reserves.
The proposal calls on Meta’s board of directors 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 maintains, would honor the company’s tradition of setting technological and financial trends, rather than simply following them.
MicroStrategy continues 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 a staggering 447,470 BTC, currently valued at $44.3 billion.
MicroStrategy has ambitious plans to raise $2 billion through a preferred stock offering, which could fuel further Bitcoin acquisitions.
With a market capitalization of $93 billion, MicroStrategy now ranks as the 99th largest company in the US, having jumped 16 spots in a single day. It also became the third most traded stock on Monday, after Tesla (NASDAQ 🙂 and Nvidia (NASDAQ 🙂).
