The National Center for Public Policy Research (NCPPR) is renewing its efforts to encourage companies to embrace cryptocurrency, turning its attention to Meta Platforms Inc.
An employee of NCPPR, Ethan Peck, has submitted a Bitcoin Treasury Shareholder Proposal to Meta, further pushing for the inclusion of cryptocurrency in the financial strategies of major tech companies.
This proposal gained attention on social media on January 10, reflecting ongoing interest in the integration of Bitcoin into corporate treasuries.
The Future of Corporate Treasuries and Cryptocurrency
Headquartered in Washington, D.C., the NCPPR has championed Bitcoin as a viable hedge against inflation and economic volatility. The organization has previously approached Microsoft Corp. and Amazon.com Inc. with similar proposals aimed at increasing corporate investment in cryptocurrency.
While Microsoft has dismissed the proposal, Amazon is expected to deliberate on it during an upcoming shareholder meeting in April.
The NCPPR’s approach echoes strategies utilized by Michael Saylor, former CEO of MicroStrategy, who has been a vocal advocate for Bitcoin as an asset class for corporate treasuries.
If the NCPPR is successful, both Meta and Amazon could follow MicroStrategy’s lead in allocating a portion of their assets to Bitcoin, recognizing its scarcity compared to traditional corporate bonds.
Additionally, Bitcoin ETFs saw significant growth, reporting a 100% increase by the end of 2024, outperforming the S&P 500 index and presenting a strong case for corporate investment in cryptocurrency.
MicroStrategy’s stock has also seen remarkable growth, soaring 2,191% over the last five years, proving the potential profitability of Bitcoin investment.
Looking Back at Meta’s Previous Crypto Endeavors
In 2019, when the company was still known as Facebook, Meta attempted to launch its digital currency, Libra. This initiative aimed to create a global stablecoin but faced robust regulatory challenges that ultimately halted its progress.
Following a rebranding to Diem in 2020, the project shifted its focus to U.S. dollar-backed stablecoins. Despite securing potential partnerships with major financial institutions, support quickly dwindled. By early 2022, the project was sold to Silvergate Bank for approximately $200 million.
Although the Libra/Diem initiative did not succeed, it underscored Meta’s ambition in the cryptocurrency domain.
As the dialogue surrounding corporate cryptocurrency investment continues, it remains to be seen whether Meta’s leadership will heed the NCPPR’s call to adopt Bitcoin as a core aspect of their financial strategy.
