The strategy has become the first company to publicly adopt Bitcoin as the basic locker reserve in August 2020, but has not been followed by many major technology companies since then.
Companies maintain treasury reserves, sometimes called cash reserves, by companies to finance short -term or emergencies. These are usually cash or cash rewards such as money market boxes or US Treasury bills for three months.
Meta giant social media maintains $ 72 billion of liquid assets in its reserves. But at its annual meeting on May 28, shareholders Return A suggestion to evaluate whether Bitcoin (BTCYou may qualify as the origin of the cabinet reserves in the future. The proposal was rejected by 1,221 to 1.
This rejection itself is not very surprising. Although Bitcoin’s dependence on companies increased, Big Tech and most major companies are still cautious. American technology giant Microsoft as well Similar proposals voted In December 2024.
The failed Bitcoin proposal from Meta, which was rejected by an overwhelming majority, raises questions about the institutional preparation for the adoption of encryption.
Bitcoin fluctuation weakens the status of the cabinet
This can be everything just a misunderstanding. Partisans Crypto has failed to realize that corporate bonds are more like an emergency money: to use them in the case of natural disasters, epidemics or to support daily commercial operations, but not as a platform for speculative investment.
“I think this is madness,” said Cointelegraph. Damodara said he could not think about “aspects of the reason why this is a good idea.”
Related to: Michael Silor provokes the purchase of fresh bitcoin after a $ 1 billion billion
DAMODARAN is a good reputation Skeptic collection. But even a professor of finance at Duke University.
Campbell Harvey, which he has He wrote a book on decentralized financing It is mostly positive about the future of Blockchain technology, he rejected the Bitcoin Treasury initiative, telling CointeleGRAPH:
“If Meta investors want to own Bitcoin, they can buy them themselves. It is not clear what role does Cryptos play in any treasury job unless the company is doing business in encryption like Bitcoin.”
Stablecoins Harvey said that it is properly qualified as a reserve for the Treasury, as it is usually liquid and is associated with basic origin, such as the US dollar, and comparing bitcoin with a very volatile tool that is not suitable for corporate reserves.
Harvey suggested that the successful Bitcoin Bitcoin chart inspired other companies to jump on the vehicle. MSTR has achieved 2,466 % of strategy since the BTC technology has made its basic backup assets, the superiority of companies such as NVIDIA, Tesla, Google and Microsoft.
“But the strategy wanted the company to turn itself into an active Bitcoin box,” Harvey said, adding:
“If the company wants to make a strategic investment in Bitcoin just as it may make a strategic investment in an emerging company, I have no problem with that. It is an adventurous investment fraught with risks, and companies do so all the time. Only do not call this treasury assets.”
However, Metas of the World often has billions of dollars in its cash reserves, and these funds are often stopped there, which earns a little interest. For professional investors, this is something like sin.
“Meta sits with billions of billions constantly,” David Tewil, President and co -founder of Prochain Capital, told CointeleGraph. “They always keep criticism.” They will be better to put some of them in Bitcoin, both for diversification purposes, but also to isolate them against the inflated dollar.
James Bouteville, head of the research company at Coinshares, told Cointelegraph that Bitcoin customization by 3 % could double the Sharpe percentage in the box, a scale used to evaluate the modified modified performance.
Coinshares’ reconnaissanceWhich tracks 1 trillion dollars of management assets (AUM), shows that the average allocation of digital assets has increased to 1.8 % in April 2025 From 1 % in October 2024. “The adoption of adoption is faster than we expected,” he added.
Bitcoin’s approach is more careful
Meta’s shareholders ’vote may reflect a broader sense of caution among the main investors of companies and institutions when it comes to bitcoin. But CEO Mark Zuckerberg controls 61 % of the voting power in Meta, so it is not necessarily a representative sample of American companies.
Stefan Badovield, CEO of the Free Institutions Project at the National Center for Public Policy Research, told Cointelegraph that the councils of companies and managers are likely to be divided into bitcoin currencies such as economists and politicians.
Perhaps there is less here than the eye sees. Badfield added:
“Although the proposal requires just looking at Bitcoin, it may still be rejected just because managers and investors do not want to be told what to do in this field.”
Meanwhile, some of the world’s largest asset managers such as Fidelity and Blackrock have improved encryption. Blackrock recently recommended that investors think about up to 2 % of their Bitcoin portfolios for diversification.
Bitcoin’s Ministry of Treasury initiatives were condensed globally. On June 3, the Paris -based Blockchain Group Group announced that it had added $ 68 million in Bitcoin to the corporate treasury. Then on June 4, K wave media in Korea announced plans to raise $ 500 million to buy bitcoin in what it described as a “treasury strategy”.
Buttefill said that at least 72 new companies have adopted Bitcoin this year, although “it seems that” many of these movements are more driven by a desire to flatter their stock prices instead of the real belief in a long -term value of keeping bitcoin on the public budget. He pointed out that the strategic allocation really requires a long -term mentality.
But what about the major companies that have nothing to do with their basic work with encryption technology or Blockchain? To date, Tesla stands alone between this group, I noticed Butterfill, adding:
“Given the current trends, we will eventually see a large large company adding Bitcoin to its public budget.”
The 10 largest bitcoin holding companies all over the world. source: bitbo
However, by returning to Meta, the rejection ratio was 1,221: 1 to some extent, no?
Meta shareholders may exaggerate the reaction of the so -called volatility called Bitcoin. He said: “Bitcoin has shown constantly less volatile than Meta for more than two months so far, and this trend passes through FAANG shares on a broader scale.”
“I always feel concerned that people read a lot in the low [proxy] The voting is concerned. In this case, it may simply be a reflection of the desire to avoid “forced” to think about bitcoin from the bitcoin himself. “
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