In an overwhelming defeat, Meta Platforms Inc. shareholders voted overwhelmingly against a proposal to add Bitcoin to the company’s treasury. The proposal, led by Ethan Peck of the National Center for Public Policy Research, received less than 1% support, which was the lowest of any proposal on Meta’s 2025 annual meeting agenda that contained 14 proposals.
The Proposal: Bitcoin as a Treasury Asset
Meta’s Ethan Peck, leveraging his own interest in the company, recommended that the corporation consider Bitcoin as an inflation hedge and prudent asset diversification. He pointed out that Bitcoin had a remarkable 124% year-over-year price appreciation in 2024 and a 1,265% appreciation rate over the last 5 years while arguing that these price increases are better than returns from the traditional assets they hold like bonds.
Peck’s proposal also cited Meta CEO Mark Zuckerberg’s established interest in Bitcoin, even going so far as to name his goats “Bitcoin” and “Max,” and looked to Meta board member Marc Andreessen’s positive attitudes towards cryptocurrencies. These arguments, however, were insufficient to move shareholders toward supporting the proposal.
Shareholder Response: A Resounding ‘No’
Shareholder support was resounding: close to five billion shares voted against the Bitcoin treasury proposal, with just fewer than four million voting for it and more than 8.8 million abstaining. This decision represents a wider reluctance by major tech companies to embrace volatile assets such as Bitcoin, even though other corporate sectors are increasingly embracing it.
Corporate Comparison: Bitcoin Take-up Elsewhere
While Meta shareholders voted against allowing Bitcoin as a treasury asset, other companies are beginning to allow Bitcoin as a treasury asset. GameStop Corp.’s first Bitcoin purchase occurred on May 28th, 2025, when it purchased 4,710 bitcoins for over $506 million. The move is just one of several aimed at diversifying its holdings and joining the trend of corporate cryptocurrency adoption.
Equally, Trump Media & Technology Group Corp. has raised more than $2.3 billion in sales of new common shares and convertible debt to fund the creation of a Bitcoin treasury reserve, setting itself as a major player in the cryptocurrency sector.
In Japan, Metaplanet Holdings has witnessed its stock’s value skyrocketing, with its value increasing by 4,800% in the last 12 months after it strategically included Bitcoin in its treasury. The firm plans to buy as much as 21,000 BTC by December 2026.
The Larger Effects: New Technologies and Incubation
The different corporate responses to Bitcoin adoption showcase the ongoing debate on cryptocurrency in corporate finance. Proponents view Bitcoin as a hedge against inflation, and believe it aligns with first-mover-stability approach, while detractors view the volatility and regulatory risks as principal disadvantages.
Meta’s decision reflects prudence; they will err on the side of stability and foreseeability in their finances. As space continues to build with cryptocurrency expectations, corporate actors are going to have to be watchful and deliberate about being decisive on respective digital assets and the varying risks they entail.
