Contributors Urge Mark Zuckerberg to Buy Bitcoin for Meta By U.Today

U.Today – Mark Zuckerberg, who famously named his pet goat, has been suggested to add Bitcoin to his Meta (Facebook) holdings.

According to podcaster and Jubilee Royalty CEO Tim Kotzman, a Bitcoin treasury shareholder proposal has been submitted to Meta Platforms Inc (NASDAQ:), representing a major development in the adoption of Bitcoin as a corporate asset.

The proposal was submitted by Ethan Beck, an employee of the National Center for Public Policy Research, on behalf of his family’s shares. This initiative follows similar proposals the organization has made to technology giants such as Microsoft (NASDAQ:) and Amazon (NASDAQ:).

The proposal would likely call for Meta to consider adding Bitcoin to the company’s treasury, in line with the growing trend of institutional adoption of cryptocurrencies. If successful, the move could further cement Bitcoin’s role as a major financial asset and hedge against inflation.

The shareholder proposal submitted to Meta makes a compelling case for the company to explore adding Bitcoin to the company’s treasury.

In his supporting statement, Ethan Peck explains the challenges of holding large cash reserves and bonds in an inflationary environment, noting that these assets reduce shareholder value over time.

He emphasizes Bitcoin’s long-term outperformance as an inflation-proof store of value, pointing to its 124% increase in 2024 and its impressive 1,265% rise over the past five years, significantly outperforming traditional bonds.

Beck also highlights the alignment of Bitcoin adoption with Meta’s innovative spirit, pointing to Mark Zuckerberg’s symbolic naming of his goats, “Bitcoin” and “Max,” as well as Meta director Marc Andreessen’s positive stance on cryptocurrencies.

He confirms that major institutional investors, such as BlackRock (NYSE:), support modest allocations to Bitcoin, arguing that a similar strategy could benefit Meta shareholders.

Beck draws attention to broader trends in Bitcoin adoption, including the rapid growth of BlackRock’s Bitcoin ETF, corporate treasury strategies like MicroStrategy and potential government reserves.

The proposal calls for Meta’s board of directors to conduct an evaluation of Bitcoin as a treasury asset, positioning it as an opportunity for Meta to remain a leader in forward-thinking asset management.

He says this approach would respect the company’s tradition of identifying technological and financial trends, rather than simply following them.

MicroStrategy is still buying Bitcoin

MicroStrategy continues to consolidate its position as the largest Bitcoin holder, recently acquiring an additional 1,070 Bitcoin for $101 million, according to a regulatory filing.

This marks the company’s ninth consecutive weekly BTC buying announcement, bringing its total holdings to 447,470 BTC, currently worth $44.3 billion.

MicroStrategy has ambitious plans to raise $2 billion through a preferred stock offering, which could lead to increased Bitcoin acquisitions.

With a market capitalization of $93 billion, MicroStrategy is now ranked 99th among the largest US companies, having jumped 16 places in one day. It also became the third most actively traded stock on Monday, after Tesla (NASDAQ:) and Nvidia (NASDAQ:).

This article was originally published on U.Today