A $Meta shareholder urged Mark Zuckerberg to consider adopting Bitcoin for his $72 billion treasury.
Meta is a premier social media company that owns the messaging platform WhatsApp, video sharing platform Instagram and threads. In October 2021, this company changed its name from Facebook to Meta to show the company’s future vision towards new virtual reality (VR)-based services, called Metaverse.
On January 11, 2024, a Bitcoin enthusiast, Tim Kotzman, informed the Crypto community that he obtained information related to the company Meta.
Kotzman said Ethan Peck, a $Meta shareholder and employee of the National Center for Public Policy Research, informed him that he had submitted a proposal for Meta to consider investing in Bitcoin for its $72 billion treasury, to diversify the company portfolio.
He submitted this proposal on behalf of his family’s actions. It’s worth noting that the National Center for Public Policy Research for Microsoft ($MSFT) and Amazon ($AMZN) put forward similar types of proposals.
It is worth knowing that Microsoft already rejected the Bitcoin investment proposal, citing the volatility of Bitcoin price and the need for stable investments.
On the other hand, Amazon has not yet commented on a similar proposal.
Meta vs Crypto
The crypto sector is not something new for the Meta company. In mid-2019, Meta’s Facebook shared its whitepaper for its $Libra stablecoin and planned to launch it in 2020, but it failed due to regulatory pressure.
Later, Meta CEO Mark Zuckerberg tried his best to partner with other companies and pursue different approaches to overcome regulatory hurdles, but they were still unsuccessful. The company later sold all of its blockchain technology to another company.
In 2022, Meta saw new hope of jumping on the cryptocurrency bandwagon through the Metaverse project, but the Metaverse concept failed to catch the world’s attention and finally in early 2023, people forgot about the Metaverse.
Also Read: After BNB, BTC and ETH: Bhutan Government Sets Eyes on Emerging Crypto Investments
