Meta’s Bitcoin treasury play flops as 99% of shareholders say no

Of the 14 proposals on Meta’s 2025 ballot, Bitcoin came in dead last.

Shareholders overwhelmingly rejected a plan to explore adding Bitcoin to the company’s corporate treasury, with less than 1% voting in favour, according to a SEC filing.

It drew the lowest support of any proposal on the agenda.

The plan was submitted in January by Ethan Peck, an employee at the conservative think tank National Center for Public Policy Research, using his personal Meta shares.

He argued that Bitcoin, with its 124% price surge in 2024, offered a superior alternative to Meta’s $72 billion in cash and short-term investments.

His proposal urged the company to evaluate Bitcoin as an inflation hedge and “responsible asset allocation” tool.

Peck has also tried — and so far failed — to get Microsoft and Amazon to consider similar measures.

Backing the idea was Matt Cole, CEO of Strive Asset Management, who made a livestreamed pitch to shareholders from the Bitcoin Conference in Las Vegas on Thursday.

“You’ve already taken step one — you named your goat Bitcoin,” Cole said, addressing Mark Zuckerberg directly. “Now it’s time to take step two.”

But the response was one-sided. Nearly five billion Meta shares were voted against the proposal, compared to just under four million in favour. Over 8.8 million abstained.

The playbook follows Michael Saylor’s Strategy, which has made Bitcoin central to its corporate identity. It’s even inspired a wave of copycats.

GameStop and Metaplanet both recently unveiled major Bitcoin buys, aiming to eventually hold over a billion dollars’ worth each.

Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.