Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
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Key Takeaways:
- Meta shareholders rejected a proposal to add Bitcoin to the company’s balance sheet.
- Bitcoin advocate Ethan Peck pushed the plan, arguing it would hedge against inflation.
- More public companies, including GameStop and Tesla, continue adding Bitcoin to their treasuries.
Meta shareholders have overwhelmingly voted down a proposal to explore adding Bitcoin to the company’s balance sheet, according to a May 28 regulatory filing.
The so-called “Bitcoin treasury assessment” proposal received just 3.92 million votes in favor — representing only 0.08% of the total — while nearly 5 billion shares voted against the measure.
Meta CEO Mark Zuckerberg, who holds 61% of the company’s voting power, likely voted against it.
Bitcoin Advocate Urged Meta to Invest Part of $72B Cash in BTC
The proposal originated from Bitcoin advocate Ethan Peck, who in January urged Meta to allocate a portion of its $72 billion cash reserves into Bitcoin, calling it a potential hedge against inflation.
“Since cash is consistently being debased and bond yields are lower than the true inflation rate, 28% of Meta’s total assets are consistently diminishing shareholder value,” Peck argued in his supporting statement.
He also pointed to BlackRock’s guidance suggesting a 2% Bitcoin allocation as reasonable.
Peck, who submitted the proposal on behalf of his family’s Meta shares, serves as Bitcoin director for the wealth management firm Strive.
He has launched similar campaigns at other tech giants, including Microsoft and Amazon.
Microsoft shareholders voted against Peck’s proposal in December.
Amazon shareholders are expected to vote on a related measure — proposing a 5% Bitcoin allocation — in the coming months.
Analysts note that while some Big Tech firms remain cautious about adding volatile crypto assets to their balance sheets, the landscape is shifting globally.
Public Companies Continue to Invest in Bitcoin
Meanwhile, the number of public companies holding Bitcoin continues to grow.
According to data from BitcoinTreasuries.NET, 116 public firms have now added Bitcoin to their balance sheets. Recent additions include GameStop and Swedish health tech company H100.
MicroStrategy remains the largest corporate Bitcoin holder, with 580,250 BTC worth approximately $60.9 billion.
Other major holders include Marathon Digital Holdings and Tesla, both with over $1 billion in Bitcoin.
As reported, digital asset companies are flooding capital markets to raise funds for large-scale Bitcoin acquisitions, spurred by the cryptocurrency’s rally to a record $111,965 last week.
The surge, up more than 50% from early April, has ignited a wave of listings and mergers as firms race to secure funding while investor appetite remains strong.
Last week, Trump Media & Technology Group confirmed plans to raise $2.5 billion to buy crypto, joining a growing list of firms mimicking MicroStrategy’s blueprint.
Just recently, French crypto holding company Blockchain Group announced plans to purchase an additional $72 million worth of Bitcoin following a successful €63.3 million bond sale, as it expands its aggressive treasury strategy.
