- Meta urged to join the "Bitcoin renaissance" by adding crypto to its reserves.
- Think tank cites Bitcoin's 124% 2024 rise as proof of better returns than traditional assets.
- Similar proposals made to Microsoft and Amazon have failed to gain much support.
The National Center for Public Policy Research, a conservative think tank, has turned its attention to Meta, urging the tech giant to invest in Bitcoin as part of its treasury strategy.
This follows unsuccessful attempts to convince Microsoft and Amazon to adopt similar measures.
The think tank’s Meta proposal recommends allocating a portion of the company’s $72 billion cash reserves to Bitcoin, citing its potential as an inflation hedge and a way to maximise shareholder value.
“Meta shareholders deserve this kind of responsible asset allocation for the Company Treasury to provide a counterweight against lower bond effectiveness,” the proposal states.
It emphasised Bitcoin’s 124% price increase in 2024 compared to bonds’ modest gains, framing Bitcoin as a more effective treasury asset.
Previously, the NCPPR failed to sway Microsoft, whose board rejected the proposal during a December vote, citing Bitcoin’s volatility and the need for stable investments.
Amazon was approached next, with a request to invest 5% of its balance sheet in Bitcoin. However, the likelihood of the proposal appearing at Amazon’s shareholder meeting in May remains slim.
The NCPPR argues that corporations should follow the example of MicroStrategy, which has seen its stock outperform both Microsoft and Amazon due to its substantial Bitcoin holdings.
MicroStrategy CEO Michael Saylor has dubbed this era the “Bitcoin renaissance,” urging companies to embrace the leading cryptocurrency.
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.
