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Meta said no to Bitcoin. Again. And they weren’t subtle about it—1,221 votes against, 1 in favor.
Big Tech’s Crypto Cold Feet
Back in 2020, a firm named Strategy made headlines. It went full Bitcoin for its treasury. Since then, most tech giants have stayed on the sidelines. Meta’s recent rejection proves they’re still not ready.
Why Treasuries Don’t Like Wild Rides
Corporate treasuries are rainy-day funds. Not gambling pots. Experts argue Bitcoin’s rollercoaster price swings make it a risky place to stash emergency money. NYU professor Aswath Damodaran called Meta’s proposal “lunacy.”
Even Duke’s Campbell Harvey, who likes blockchain, wasn’t impressed. His take: if you want Bitcoin, buy it yourself.
The Strategy Outlier
Strategy made a wild bet, and it worked—its stock soared 2,466%! But it didn’t just hold Bitcoin. It became a crypto company in disguise. That’s not something every firm can pull off.
Boring Cash vs. Bitcoin Boost
Meta’s $72 billion sits in low-interest stuff. Analysts argue even a small slice in Bitcoin (say 3%) could improve returns and balance out dollar inflation. CoinShares’ James Butterfill claims it could double performance ratios.
Still, shareholders crushed the Bitcoin idea. But Butterfill points out: Bitcoin has actually been less jumpy than Meta stock lately. Hmm.
Caution or Control Freaks?
Mark Zuckerberg controls 61% of the votes. That might explain the outcome. Some experts think corporate leaders just don’t want to be told what to do with crypto—especially by proposals like this.
But the Tide Might Be Turning
Globally, the trend is shifting. Big firms in Korea and France are adding Bitcoin to their treasuries. Even BlackRock suggests putting 2% of portfolios in BTC.
Butterfill says 72 new firms have added Bitcoin this year. Though some may just want to juice their stock price.
So, while Meta plays it safe, others are dipping their toes—and some are diving in.
