Bitcoin corporate treasury shareholder proposal submitted to Meta
Ethan Peck submitted a proposal to Meta shareholders advocating for the conversion of part of Meta's $72 billion cash reserves into Bitcoin (BTC) to mitigate currency debasement risks. Peck highlighted that inflation is eroding 28% of Meta's cash assets and noted Bitcoin's significant outperformance over bonds by 1,262% in the past five years. He referenced Meta executives' personal ties to Bitcoin, questioning the company's asset allocation strategy. Peck's proposal follows similar initiatives aimed at Microsoft and Amazon, with Microsoft shareholders recently rejecting a similar Bitcoin allocation proposal. The National Center for Public Policy Research argues that traditional inflation measures underestimate true inflation rates. Industry experts suggest that Big Tech's hesitance to adopt Bitcoin stems from its volatility and the absence of yield-bearing opportunities, making substantial allocations challenging for these companies.
