Peck pointed out that inflation and low returns on bonds have been eroding the company’s cash hoard. He noted that Bitcoin’s fixed supply and past price gains might offer a hedge. Some shareholders voted in favor, but most sided with the company’s board.
Meta’s leaders wrote that they review many kinds of investments on a regular basis to ensure they have enough liquid funds for operations. They did not comment on whether Bitcoin was a good or bad choice. Instead, they said their existing process meets all their needs.
The National Center for Public Policy Research has tried similar pushes at Microsoft and Amazon. Microsoft shareholders in December 2024 rejected a proposal to put Bitcoin on the balance sheet.
Amazon faced a comparable idea but did not act on it. Even when some tech leaders make hints—Mark Zuckerberg named his goats “Bitcoin” and “Max,” and board member Marc Andreessen sits on Coinbase’s board—big firms remain cautious. They worry about price swings and extra rules that come with owning cryptocurrency.
It also marks a return to crypto efforts after Meta closed its Diem project. Back in 2022, Diem was shelved amid US regulatory pushback. Meta’s new moves suggest it wants a piece of payments tech, but without the wild price swings of Bitcoin.
Featured image from Unsplash, chart from TradingView
