Meta shareholder proposes Bitcoin allocation from $72B cash
A Meta shareholder has proposed that the company allocate a portion of its $72 billion cash reserves to Bitcoin (CRYPTO:BTC).
The proposal, submitted by Ethan Peck, highlights Bitcoin's potential as a hedge against inflation and its strong performance compared to traditional assets.
Peck, who is affiliated with the National Center for Public Policy Research, expressed concerns about inflation eroding the value of Meta’s cash holdings.
He noted that Bitcoin has seen a remarkable 1,265% increase over the past five years, significantly outperforming bonds.
“Bitcoin, thanks to its verifiable fixed supply, today represents the best protection against inflation,” stated Peck in his proposal.
He also pointed out Meta's indirect exposure to cryptocurrency through BlackRock, which supports a modest Bitcoin allocation for corporations.
This initiative aligns with a growing movement advocating for corporate Bitcoin adoption among major companies like Microsoft and Amazon.
While Microsoft shareholders previously rejected a similar proposal due to concerns over Bitcoin's volatility, Amazon has yet to respond to its suggestion for a 5% allocation.
The proposal has sparked discussions within both the crypto and corporate communities regarding Meta's potential role in Bitcoin adoption.
Jeff Park from Bitwise speculated that CEO Mark Zuckerberg’s previous skepticism toward traditional systems might align with Bitcoin’s decentralised nature.
At the time of reporting, the Bitcoin price was $93,143.01.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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