Shareholder pokes Meta to fill corporate treasury with BTC

The allure of a corporate treasury filled with cryptocurrency is once again tempting the National Center for Public Policy Research (NCPPR). This time, the group’s target is Meta Platforms Inc. there is.

National Center employee Ethan Peck has filed a Bitcoin Treasury Shareholder Offer to Meta on behalf of his family, marking yet another attempt to bring the cryptocurrency into tech giants’ boardrooms.

Bitcoin (BTC) podcast host Tim Jotzman shared the proposal via a social media post on January 10. See below.

A. #Bitcoin Treasury Shareholder Offer submitted to Meta.

Shareholder Ethan Peck, an employee of the National Center for Public Policy Research, the applicant organization $MSFT & $AMZN – He informed me that he handed over his shares on behalf of his family. pic.twitter.com/KrAKw7nHwp

— Tim Kotzman (@TimKotzman) January 10, 2025

Will corporate treasuries turn into crypto strongholds?

NCPPR, headquartered in Washington, DC, touts Bitcoin as a hedge against inflation and economic turbulence. Microsoft Corp. with similar offers. and they have already approached Amazon.com Inc.

Redmond, Washington-based Microsoft has rejected the idea, but Seattle-based Amazon will reportedly consider it at its shareholders’ meeting in April.

NCPPR appears to be taking a page out of Michael Saylor’s playbook. Saylor, the former CEO and current chairman of MicroStrategy, crafted a Bitcoin-heavy corporate strategy and emerged as the poster child for crypto-filled corporate treasuries.

If NCPPR achieves its goal, Meta and Amazon, like MicroStrategy, will allocate some of their assets to Bitcoin. From where? They see it as an alternative to lackluster corporate bonds because of its stable supply.

Additionally, Bitcoin ETFs or exchange-traded funds are up 100% by the end of 2024. That’s four times the return of the S&P 500 index and 35% higher than the Roundhill Magnificent Seven ETF, which tracks the seven tech giants. Meta, Microsoft and Amazon are members).

And then there’s MicroStrategy, which saw its stock bubble reach 2,191% in five years.

Remember Libra? NO? Good morning my baby.

Meta attempted to launch its own digital currency, Libra, in 2019, when the company was known as Facebook. The project aimed to create a global stablecoin backed by a range of fiat currencies and government bonds.

Libra’s goal was to facilitate low-cost, seamless transactions around the world, especially for the unbanked population. But the initiative has faced serious regulatory objections from lawmakers and financial authorities around the world who have expressed concerns about monetary sovereignty, data privacy and potential misuse for illicit activities.

The project was rebranded as Diem in 2020, focusing solely on US dollar-backed stablecoins. Meta approached Visa, Mastercard and PayPal to become partners, but they withdrew their support.

In early 2022, Meta sold Diem to Silvergate Bank for approximately $200 million.

Although the Libra/Diem initiative was a fiasco, it revealed Meta’s ambition in the digital currency field.

It remains to be seen whether Meta CEO Mark Zuckerberg and his board of directors will fall into the trap of NCPPR and make Bitcoin their next big move.