Shareholder Pushes Meta to Fill Corporate Treasury with Bitcoin

The National Center for Public Policy Research (NCPPR) is once again making waves by advocating for a tech giant to incorporate Bitcoin into its corporate treasury. This time, the organization has set its sights on Meta Platforms Inc. (formerly Facebook).

Ethan Peck, an employee of the NCPPR, submitted a Bitcoin Treasury Shareholder Proposal to Meta, urging the company to follow in the footsteps of other corporations that have embraced cryptocurrency. This marks yet another attempt to bring Bitcoin into the boardrooms of major tech companies, as the group continues to advocate for the digital currency as a hedge against inflation and economic instability.

Tim Jotzman, a Bitcoin podcast host, shared the proposal on January 10, sparking discussions around the potential of corporate treasuries becoming strongholds for cryptocurrency.

The Push for Corporate Treasuries Filled with Bitcoin

Based in Washington, D.C., the NCPPR has previously approached major tech firms like Microsoft and Amazon with similar proposals, advocating for the inclusion of Bitcoin in their corporate strategies. While Microsoft rejected the idea, Amazon is reportedly considering it at its upcoming shareholder meeting in April.

The NCPPR’s push for Bitcoin adoption in corporate treasuries seems to be inspired by the example set by Michael Saylor, former CEO and current chairman of MicroStrategy. Saylor has become a prominent advocate for corporate Bitcoin holdings, making his company a poster child for the strategy. Under his leadership, MicroStrategy has heavily invested in Bitcoin, viewing it as an alternative to traditional corporate bonds due to its fixed supply and potential for long-term growth.

The NCPPR hopes that Meta, along with Amazon, will allocate a portion of their corporate assets to Bitcoin, following the example set by MicroStrategy. The group argues that Bitcoin offers a superior investment opportunity compared to traditional financial assets, particularly in an environment of economic uncertainty.

Bitcoin’s Strong Performance Fuels Corporate Interest

The call for Bitcoin adoption by major companies comes as Bitcoin’s performance has significantly outpaced traditional investments. By the end of 2024, Bitcoin exchange-traded funds (ETFs) saw returns increase by 100%, significantly outperforming the S&P 500 index and even surpassing the Roundhill Magnificent Seven ETF, which tracks the top seven tech giants, including Meta, Microsoft, and Amazon.

In contrast to the sluggish returns on corporate bonds, Bitcoin’s fixed supply and growing demand have made it an attractive alternative. For companies looking to diversify their treasury holdings, Bitcoin has become an increasingly popular choice. MicroStrategy, for example, saw its stock price soar 2,191% over the past five years, largely due to its heavy Bitcoin investments.

Meta’s Previous Digital Currency Ambitions: A Reminder of Its Digital Ambition

Meta’s exploration of digital currencies is not new. The company attempted to launch its own digital currency, Libra, in 2019, when it was still known as Facebook. The project aimed to create a global stablecoin backed by a basket of fiat currencies and government securities, with the goal of providing low-cost, seamless transactions worldwide—particularly for unbanked populations.

However, Libra faced significant regulatory hurdles, with lawmakers and financial authorities raising concerns about monetary sovereignty, data privacy, and the potential for misuse in illicit activities. The project was rebranded as Diem in 2020, focusing on a U.S. dollar-backed stablecoin. Despite courting major partners like Visa, Mastercard, and PayPal, support for the initiative waned, and by early 2022, Meta sold Diem to Silvergate Bank for around $200 million.

While the Libra/Diem project ultimately failed, it demonstrated Meta’s ambition in the digital currency space and highlighted the company’s interest in exploring new financial technologies.

Will Meta Embrace Bitcoin?

As the NCPPR continues to push for Bitcoin to be included in Meta’s corporate treasury, the big question remains: Will Meta CEO Mark Zuckerberg and his board of directors take the bait? With Bitcoin continuing to perform well and growing interest in corporate crypto adoption, the move could align with Meta’s broader strategy to stay at the forefront of technological innovation.

As of now, it remains to be seen whether Meta will take the plunge and allocate a portion of its corporate assets to Bitcoin. However, with increasing interest from both corporations and investors, the idea of Bitcoin filling the coffers of major tech companies may become more mainstream in the years ahead.