$Meta (Formerly Facebook) Shareholder Submits Bitcoin Investment Proposal
A $Meta shareholder urged Mark Zuckerberg to consider Bitcoin adoption for its $72 Billion treasury.
Meta is a top-level social media company that owns the messaging platform WhatsApp, video sharing platform Instagram, and threads. In Oct 2021, this company changed its name from Facebook to Meta to show the company’s future vision toward virtual reality (VR) based new services, called Metaverse.
On 11 Jan 2024, A Bitcoin enthusiast, Tim Kotzman, informed the Crypto community that he got some information related to Meta company.
Kotzman said that Ethan Peck, a $Meta shareholder & employee at the National Center for Public Policy Research, an organisation, informed him that he submitted a proposal for Meta to consider investing in Bitcoin for its $72 billion treasury, to diversify the company’s portfolio.
He submitted this proposal on behalf of his family’s shares. It is worth noting that similar kinds of proposals were submitted by the National Center for Public Policy Research for Microsoft ($MSFT) & Amazon ($AMZN).
It is worth it to know that Microsoft already rejected the Bitcoin investment proposal, citing Bitcoin’s price volatility and the need for stable investments.
On the other hand, Amazon has yet to decide on a similar proposal.
Meta vs Crypto
The crypto sector is not a new thing for Meta firm. In the mid of 2019, Meta’s Facebook shared its whitepaper for its stablecoin $Libra & planned to launch in 2020 but failed because of regulatory pressure.
Later, Meta CEO Mark Zuckerberg tried his best to partner with other companies & follow different approaches to overcome regulatory hurdles, but they still failed to succeed. Later Company sold all of its blockchain technology to another company.
In 2022, Meta saw a new hope to get on the crypto bandwagon via the Metaverse project, but the Metaverse concept failed to grab attention in the world & finally, in early 2023, people forgot about Metaverse.
Read also: After BNB, BTC, and ETH: Bhutan Government Sets Eyes on Emerging Crypto Investments
