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Key Takeaways:
- Meta shareholders dismissed a proposal to incorporate Bitcoin into the company’s balance sheet.
- Bitcoin proponent Ethan Peck advocated for the initiative, claiming it would serve as a safeguard against inflation.
- More publicly traded companies, such as GameStop and Tesla, are increasingly adding Bitcoin to their reserves.
According to a regulatory filing dated May 28, Meta shareholders have decisively voted against a proposal to investigate the addition of Bitcoin to the company’s balance sheet.
The “Bitcoin treasury assessment” proposal garnered only 3.92 million votes in favor, accounting for a mere 0.08% of the total, while nearly 5 billion shares opposed the initiative.
Meta CEO Mark Zuckerberg, who possesses 61% of the company’s voting rights, likely cast his vote against it.
Bitcoin Advocate Encouraged Meta to Invest Part of $72B Cash in BTC
The proposal was initiated by Bitcoin advocate Ethan Peck, who in January urged Meta to invest a fraction of its $72 billion cash reserves into Bitcoin, describing it as a potential hedge against inflation.
“As cash is continually being devalued and bond yields fall below the actual inflation rate, 28% of Meta’s total assets are persistently eroding shareholder value,” Peck stated in his supporting remarks.
He also referenced BlackRock’s recommendation of a 2% Bitcoin allocation as sensible.
Peck, who presented the proposal on behalf of his family’s Meta shares, serves as the Bitcoin director for the wealth management firm Strive.
BREAKING: $1.6 TRILLION META OFFICIALLY REJECTS SHAREHOLDER PROPOSAL TO ADD #BITCOIN TO TREASURY
$70 BILLION IN MELTING ICE CUBES. THIS WILL GO DOWN AS A HISTORIC MISTAKEpic.twitter.com/pWU1uC6kli
— The Bitcoin Historian (@pete_rizzo_) May 31, 2025
He has initiated similar efforts at other technology giants, including Microsoft and Amazon.
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Microsoft shareholders rejected Peck’s proposal in December.
Amazon shareholders are anticipated to vote on a related proposal — suggesting a 5% Bitcoin allocation — in the upcoming months.
Analysts observe that while some major technology companies remain hesitant to add volatile crypto assets to their balance sheets, the global landscape is evolving.
Public Companies Continue to Invest in Bitcoin
Meanwhile, the number of publicly traded companies holding Bitcoin is on the rise.
Data from BitcoinTreasuries.NET indicates that 116 public firms have now incorporated Bitcoin into their balance sheets. Recent additions include GameStop and the Swedish health tech company H100.
MicroStrategy continues to be the largest corporate holder of Bitcoin, with 580,250 BTC valued at approximately $60.9 billion.
Other significant holders include Marathon Digital Holdings and Tesla, both possessing over $1 billion in Bitcoin.
As reported, digital asset firms are flooding capital markets to secure funds for large-scale Bitcoin acquisitions, driven by the cryptocurrency’s surge to a record $111,965 last week.
This increase, exceeding 50% since early April, has sparked a wave of listings and mergers as companies rush to obtain funding while investor interest remains robust.
Last week, Trump Media & Technology Group confirmed plans to raise $2.5 billion to acquire crypto, joining a growing list of firms emulating MicroStrategy’s strategy.
Recently, French crypto holding company Blockchain Group announced intentions to purchase an additional $72 million worth of Bitcoin following a successful €63.3 million bond sale, as it expands its aggressive treasury strategy.
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