Mark Zuckerberg Proposed to Add Bitcoin to Meta (Facebook) Holdings

A Bitcoin Treasury Shareholder Proposal has been submitted to Meta Platforms Inc (NASDAQ:META), marking a significant development in the institutional adoption of Bitcoin.

Filed by Ethan Peck, an employee at The National Center for Public Policy Research, the proposal aims to get Meta to consider adding Bitcoin to its corporate treasury, in light of the growing trend of institutional adoption of cryptocurrencies.

Here's what the proposal entails:

The proposal submitted to Meta presents a strong case for the company to consider adding Bitcoin to its corporate treasury. In his supporting statement, Peck highlights the challenges faced by Meta in holding large cash reserves and bonds, especially in an inflationary environment. He argues that these assets are eroding shareholder value over the long term.

To address this issue, the proposal suggests that Meta could allocate a portion of its treasury to Bitcoin, given its superior performance as an inflation-resistant store of value. Peck points out that BTC’s price rose by 124% in 2024 and a whopping 1,265% over the past five years, significantly outpacing traditional bonds.

Furthermore, the proposal aligns with Meta's innovative spirit, evidenced by Mark Zuckerberg naming his goats "Bitcoin" and "Max" and Meta director Marc Andreessen's positive stance on cryptocurrencies.

The proposal also notes that major institutional investors, like BlackRock (NYSE:BLK), are recommending modest Bitcoin allocations, and a similar strategy could benefit Meta's shareholders.

Peck highlights the 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 concludes by urging Meta's board to evaluate Bitcoin as a treasury asset, presenting an opportunity for the company to lead in forward-thinking asset management.

This approach, the proposal argues, would be in line with Meta's history of setting technological and financial trends, rather than simply following them.

MicroStrategy still buying Bitcoin

In other news, business intelligence firm MicroStrategy (NASDAQ:MSTR) announced yet another purchase of 246 BTC for about $14.4 million.

This marks the company's ninth consecutive weekly Bitcoin purchase announcement, bringing its total holdings to 447,470 BTC, currently valued at $44.3 billion.

MicroStrategy also disclosed that it has applied to the SEC for an urgent review of its outstanding registration statement. This move is likely to pave the way for the company to quickly raise funds to acquire more Bitcoin.

The company 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 U.S. company, having leaped 16 spots in a single day. It also became the third most traded equity on Monday, following Tesla (NASDAQ:TSLA) and Nvidia (NASDAQ:NVDA).