**Meta Platforms Inc. Faces New Proposal to Adopt Bitcoin Treasury**
The National Center for Public Policy Research (NCPPR) has submitted a Bitcoin Treasury Shareholder Proposal to Meta Platforms Inc., marking the group’s latest attempt to bring cryptocurrency to the boardrooms of tech giants. This move follows similar proposals to Microsoft Corp. and Amazon.com Inc.
NCPPR’s Bitcoin Push
Ethan Peck, a National Center employee, submitted the proposal on behalf of his family’s shares, as revealed by Bitcoin podcast host Tim Jotzman on social media. The NCPPR, based in Washington, D.C., has been advocating for Bitcoin as a hedge against inflation and economic turbulence.
Corporate Treasuries and Crypto
The proposal is part of a larger trend of companies exploring the potential of cryptocurrency in their corporate strategies. MicroStrategy, led by former CEO and current chair Michael Saylor, has been a pioneer in this space, allocating a significant portion of its assets to Bitcoin. If the NCPPR’s proposal is successful, Meta and Amazon may follow suit, allocating a portion of their assets to Bitcoin as an alternative to traditional corporate bonds.
Bitcoin’s Growing Appeal
The appeal of Bitcoin is evident in its performance, with Bitcoin ETFs (exchange-traded funds) surging 100% by the end of 2024. This growth outpaces the S&P 500 index and the Roundhill Magnificent Seven ETF, which tracks the performance of tech giants, including Meta, Microsoft, and Amazon. MicroStrategy’s stock has also seen significant growth, ballooning 2,191% over five years.
Meta’s Digital Currency Past
Meta’s interest in digital currency is not new. The company attempted to launch its own digital currency, Libra, in 2019, which aimed to create a global stablecoin backed by a basket of fiat currencies and government securities. However, the project faced significant regulatory pushback and was eventually rebranded as Diem, focusing on U.S. dollar-backed stablecoins. Despite the failure of Libra/Diem, the initiative demonstrated Meta’s ambition in the digital currency space.
Conclusion
The NCPPR’s proposal to Meta Platforms Inc. marks a significant development in the growing trend of companies exploring the potential of cryptocurrency in their corporate strategies. As Bitcoin’s appeal continues to grow, it remains to be seen whether Meta will adopt a Bitcoin treasury and follow in the footsteps of pioneers like MicroStrategy.
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