Meta Receives Proposal to Replace $72B Cash and Bonds with Bitcoin to Combat Inflation ...Middle East

Ethan Peck, a shareholder of Meta, officially submits a proposal urging the social media company to consider adding Bitcoin to its treasury. Peck submitted the proposal on behalf of his family, which owns shares in Meta. Tim Kotzman, the CEO and founder of Jubilee Royalty, shared the development over the weekend on X. Meta Urged to Consider Bitcoin Amid Declining Value of Cash and Bonds According to a screenshot of the proposal, the shareholder provided an overview of Meta’s financial position, indicating that the company had a total assets of $256 billion at the end of Q3 2024. Of the total assets, a whopping $72 billion consists of fiat currencies and other cash equivalents like corporate and U.S. government bonds. The proposal noted that these cash equivalents, which amount to about 28% of Meta’s total assets, constantly lose value due to inflation and low bond yields. Consequently, the proposal suggested that Meta consider replacing some of these cash and bonds with Bitcoin. It referenced Bitcoin’s fixed supply and inflation-resistant properties as reasons why the premier cryptocurrency should be added to Meta’s treasury. Furthermore, the proposal highlighted how Bitcoin outperformed bonds over the past year, with its price soaring by 124% throughout 2024. This trajectory saw Bitcoin outperform bonds by an average of 119% in the past year and 1,262% over the past five years. Growing Interest in Bitcoin Peck noted that prominent figures in Meta, including CEO Mark Zuckerberg and director Marc Andreessen, are already interested in Bitcoin. The proposal referenced advice from BlackRock, which recommended a 2% allocation in Bitcoin. It also cited the growing adoption of Bitcoin among corporate investors, which has become an effective strategy for these companies. Specifically, it mentioned how MicroStrategy’s stock has outperformed Meta’s by 2,191% over the past five years, thanks to the former’s adoption of Bitcoin. The proposal also cited several reasons Meta should consider adding Bitcoin to its reserve, including the potential creation of a national Bitcoin stockpile in the U.S. and BlackRock’s success with its Bitcoin ETF. Notably, the proposal urged Meta to conduct an assessment to evaluate the benefits of replacing a portion of its cash and bonds with Bitcoin and also consider whether taking such action will benefit shareholders. In addition to Meta, Peck also submitted a similar request to major companies like Amazon and Microsoft. Last month, Peck proposed that Amazon consider adding Bitcoin as a treasury reserve asset. This development comes as several corporate clients show interest in Bitcoin. MicroStrategy is leading this initiative, with the company holding a total of 447,470 BTC as of January 6, 2025.

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Meta Receives Proposal to Replace $72B Cash and Bonds with Bitcoin to Combat Inflation ...Middle East

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