Nikolas Sargeant
Meta shareholders have delivered a resounding rejection of a shareholder proposal advocating for Bitcoin integration into the social media giant's corporate treasury, according to May 28 regulatory disclosures.
The "Bitcoin treasury assessment" initiative garnered merely 3.92 million supporting votes, representing an insignificant 0.08% of total shareholder participation, while nearly 5 billion shares opposed the cryptocurrency measure. Meta CEO Mark Zuckerberg, controlling 61% of the company's voting authority, likely contributed to the overwhelming opposition.
This decisive rejection highlights the continued resistance among traditional technology companies toward cryptocurrency treasury adoption, despite growing corporate Bitcoin acceptance across other sectors.
Inflation Hedge Argument Fails to Persuade Meta Leadership
The proposal originated from Bitcoin advocate Ethan Peck, who in January encouraged Meta to allocate portions of its substantial $72 billion cash reserves toward Bitcoin as an inflation protection strategy. Peck argued that traditional cash holdings consistently diminish shareholder value due to currency debasement and bond yields falling below actual inflation rates.
"Since cash is consistently being debased and bond yields are lower than the true inflation rate, 28% of Meta's total assets are consistently diminishing shareholder value," Peck stated in his supporting documentation. He referenced BlackRock's institutional guidance suggesting 2% Bitcoin allocations as reasonable portfolio diversification.
Peck, serving as Bitcoin director for wealth management firm Strive, submitted the proposal representing his family's Meta shareholdings. His advocacy extends beyond Meta, having launched comparable campaigns targeting other technology giants including Microsoft and Amazon.
Microsoft shareholders previously rejected Peck's similar proposal in December, while Amazon shareholders are anticipated to vote on a related measure proposing 5% Bitcoin allocation in upcoming months. These outcomes suggest Big Tech companies remain cautious regarding volatile cryptocurrency integration into corporate treasuries.
Corporate Bitcoin Adoption Accelerates Despite Tech Giant Resistance
Despite resistance from major technology companies, public corporation Bitcoin adoption continues expanding significantly. BitcoinTreasuries.NET data indicates 116 public firms have incorporated Bitcoin into their balance sheets, with recent additions including GameStop and Swedish health technology company H100.
MicroStrategy maintains its position as the largest corporate Bitcoin holder, possessing 580,250 BTC valued at approximately $60.9 billion. Other substantial corporate holders include Marathon Digital Holdings and Tesla, both maintaining Bitcoin positions exceeding $1 billion.
The broader cryptocurrency landscape has experienced significant momentum, with digital asset companies actively pursuing capital market funding for large-scale Bitcoin acquisitions. This activity intensified following Bitcoin's rally to a record $111,965 last week, representing over 50% growth since early April.
The surge has catalyzed numerous listings and mergers as companies compete to secure funding while investor enthusiasm remains elevated. Trump Media & Technology Group recently confirmed plans to raise $2.5 billion for cryptocurrency investments, following MicroStrategy's pioneering corporate Bitcoin strategy.
French cryptocurrency holding company Blockchain Group exemplifies this trend, announcing plans to purchase an additional $72 million worth of Bitcoin following a successful €63.3 million bond sale, continuing its aggressive treasury diversification approach.
While traditional technology companies like Meta resist cryptocurrency treasury integration, the broader corporate landscape demonstrates increasing acceptance of Bitcoin as a legitimate treasury asset class, suggesting a growing divide between established tech giants and emerging corporate cryptocurrency strategies.
