Meta Shareholders Reject Bitcoin Treasury Proposal

TLDR

• 4.98 billion votes opposed the Bitcoin proposal.
• Only 3.92 million votes supported the proposal.
• Ethan Peck argued Bitcoin could diversify Meta’s $72 billion reserves.

Meta’s shareholders recently voted on a significant proposal regarding the company’s treasury strategy. On May 30, 2025, they decisively rejected a plan to convert a portion of Meta’s cash reserves to Bitcoin. This proposal had aimed to position Bitcoin as a hedge against inflation.

The proposal, known as Proposal 13, saw a vast majority of opposition. Out of total votes cast, 4.98 billion were against it, while only 3.92 million supported it. This represents less than 0.1% in favor. Additionally, there were 8.86 million abstentions and 204.77 million non-votes from brokers.

Ethan Peck and His Arguments for Bitcoin

The individual behind this proposal was Ethan Peck from the National Center for Public Policy Research. Peck’s argument was centered on the potential of Bitcoin to act as an inflation hedge. He highlighted Bitcoin’s price appreciation in 2024 as a key point of consideration compared to traditional bond returns.

Peck suggested that Bitcoin could enhance Meta’s treasury by providing an alternative strategy amidst declining bond effectiveness. This comes in contrast to the company’s $72 billion cash reserves, which he believed could benefit from diversification.

Calls for Support and Market Speculation

Ahead of the vote, there was notable public lobbying for the proposal. Matt Cole, CEO of Strive Asset Management, endorsed a “yes” vote. During the 2025 Bitcoin Conference, he encouraged Meta’s CEO, Mark Zuckerberg, to adopt what he termed a “bold corporate Bitcoin treasury approach.”

Bloomberg analyst Eric Balchunas further commented on the potential implications. He suggested that Meta could have been the first US megacap company to incorporate Bitcoin into its treasury in this market cycle. This observation was seen as indicative of broader corporate acceptance of cryptocurrency.

Challenges Cryptocurrency Advocates Face

The rejection of Proposal 13 mirrors previous unsuccessful efforts to integrate Bitcoin into the treasuries of major firms like Microsoft and Amazon. Cryptocurrency advocates continue to face hurdles in altering the conventional treasury frameworks of large corporations.

While Meta’s rejection maintains its current treasury management approach, it suggests that proponents of cryptocurrency remain active. They are likely to persist in urging blue-chip corporate boards to reconsider digital asset policies, particularly as regulatory clarity advances in the sector.

This development may influence sentiment around corporate cryptocurrency adoption. However, no on-chain data regarding changes in total value locked (TVL), liquidity shifts, or staking flows were available in the information provided.