CEO of Strive Encourages Mark Zuckerberg to Invest in Bitcoin, Through Discussion About Meta's Financial Reserves.
Meta Platforms Rejects Proposal to Add Bitcoin to Balance Sheet
In a significant development at the Bitcoin 2025 conference in Las Vegas, Strive Asset Management CEO Matt Cole made a public call to Meta Platforms CEO Mark Zuckerberg, urging the tech giant to convert a portion of its $61 billion cash hoard into Bitcoin. However, Zuckerberg did not respond to the call.
Speaking to a vast audience, Cole emphasized that Meta's decision to keep a substantial amount of its reserves in cash and short-term U.S. Treasuries exposes shareholders to avoidable monetary debasement. He asserted that the case for incorporating Bitcoin onto corporate balance sheets has never been stronger, given Bitcoin's market capitalization surpassing $2 trillion.
Cole highlighted the global fiat debt crisis, with M2 money supply continuing to rise, leading to a decrease in the purchasing power of dollars and dollars held in short-term U.S. Treasuries. He also pointed out that inflation indices underestimate the erosion of real returns due to the rise of asset prices such as stocks and homes, posing a considerable loss of value for shareholders.
Linking the monetary argument to accelerating advancements in artificial intelligence, Cole forecasted a reshuffle in the S&P 500, similar to the one brought about by the internet two decades earlier. He urged Meta to lean into AI innovation while considering the balance-sheet side of the equation.
Cole closed his speech by referring to Zuckerberg's pet goat, Bitcoin, and asked Meta to adopt a bold Bitcoin treasury strategy and support proposal number 13.
Market-structure analysts and entrepreneurs were quick to comment on the event. Bloomberg ETF specialist Eric Balchunas indicated that it feels inevitable for a Big Boy U.S. company to add Bitcoin to its balance sheet, with Meta potentially being the one to break the ice. However, Tesla, which allegedly already took this step four years ago, was noted as an exception.
Skeptics, such as Larry Tabb from Bloomberg Intelligence, questioned the rationale behind such a move, questioning whether Bitcoin would generate shareholder value, given its lack of dividends, usability, and return on investment.
At Meta's annual meeting, a shareholder proposal suggesting the evaluation of converting some of Meta's cash and marketable securities into Bitcoin was recently rejected. As of press time, Bitcoin traded at $107,948.
The rejection of this proposal indicates that Meta has no plans to consider Bitcoin acquisition policies for its treasury at the moment. Additionally, there is no concrete evidence that Strive Asset Management's proposal or Matt Cole's call has had any significant influence on Meta's stance regarding Bitcoin, as of yet.
In light of the financial debate at the Bitcoin 2025 conference, Matt Cole suggested that Meta Platforms, with its substantial cash reserves, should reconsider the strategic business move of incorporating Bitcoin, given the digital currency's increased market capitalization and potential benefits in technology innovation, such as artificial intelligence. Despite Strive Asset Management's proposal being rejected at Meta's annual meeting, the call for a bold treasury strategy in Bitcoin remains an interesting perspective in the expansive realm of corporate finance.
