Meta Says No to Bitcoin Reserves Despite Growing Institutional Adoption

Meta Platforms, the parent company of Facebook and Instagram, overwhelmingly voted against a proposal to diversify the company's Treasury into Bitcoin.

This indicates that large tech companies remain cautious about accepting top cryptocurrencies despite growing corporate interest.

Meta Closes Door on Bitcoin Treasury Move

According to documents shared on X, the shareholder proposal only received 3.9 million supporting votes, while over 4.9 billion votes were against. 8.9 million shares did not vote, and 205 million were broker non-votes.

This vote occurred after a proposal by Ethan Peck, a Meta shareholder, earlier this year.

Peck called for Meta to convert part of its cash and bond reserves to Bitcoin, citing increasing institutional acceptance and the asset's potential to outperform traditional financial instruments.

However, Meta's board of directors rejected the proposal even before the vote, stating that the company already has robust Treasury management processes.

The board argued there was no compelling reason to consider Bitcoin, though not completely dismissing the concept of digital assets.

"While we do not opine on the value of cryptocurrency investments compared to other assets, we believe the requested assessment is unnecessary due to our existing processes for managing corporate Treasury," the Meta board stated.

Nevertheless, Meta has not entirely ruled out blockchain technology. The company is reportedly having early-stage discussions with crypto infrastructure companies about potentially integrating stablecoins to support global payments.

Meanwhile, the vote ends speculation that Meta might follow companies like Strategy, which has actively accumulated Bitcoin as a reserve asset.

The Facebook parent company's decision also reflects recent shareholder rejections at Amazon and Microsoft, both of which declined similar proposals.

Some speculation surrounds Meta's relationship, originating from CEO Mark Zuckerberg's crypto culture, including one of his goats being named Bitcoin.

Notably, market analysts have suggested that Meta could lead a new wave of tech companies accepting digital assets.

"If a company like Meta or Microsoft adds BTC to their balance sheet, it would have a larger impact than all the smaller companies doing so. Like when Tom Hanks got COVID, it made it feel real despite increasing cases," Bloomberg ETF analyst Eric Balchunas explained.

As of 05/2025, over 85 public companies hold a total of more than 804,000 BTC, according to Hodl15Capital. Strategy leads with over 580,000 BTC under its control.