Bitcoin in Amazon's crosshairs: Will the tech giant follow in MicroStrategy's footsteps

Bitcoin in Amazon's crosshairs: Will the tech giant follow in MicroStrategy's footsteps

Amazon (AMZN) shareholders have taken the initiative to propose that the company start allocating a portion of its reserves to Bitcoin (BTC). The move could mark a significant shift in the institutional acceptance of cryptocurrencies and attract the attention of not only investors, but also the entire market.

The proposal, which was presented by the US think tank National Center for Public Policy Research (NCPPR), highlights that Amazon has an obligation to diversify its investments into assets such as Bitcoin, which perform better than traditional bonds. Shareholders believe the move could help the company fight inflation more effectively and increase shareholder value.

"While Bitcoin is currently considered a volatile asset (much like Amazon's stock has been throughout its history), companies have a responsibility to maximize shareholder value in both the short and long term," reads a key statement in the proposal. Shareholders suggest Amazon should consider allocating at least 5% of its assets to Bitcoin, which could bring stability and potential profits.

The proposal also resonates with the former CEO of Binance, CZ, who expressed curiosity about whether Amazon could start accepting payments in Bitcoin. Being open to accepting cryptocurrencies could allow Amazon to attract new clientele and stay at the forefront of technological advancements.

With the recent approval of bitcoin spot ETFs in the US and the re-election of Donald Trump, who is known to be a supporter of cryptocurrencies, the way is clear for further institutional acceptance of Bitcoin. If Amazon actually makes this move, it could become another flagship example of a trend already started by companies like MicroStrategy.

In this way, the tech giant could not only diversify its investments, but also boost investor confidence and strengthen its market position. How the situation will develop remains a question, but one thing is certain - Bitcoin is increasingly penetrating the corporate world and its influence is growing.

*This is not investment advice.

Coingarage team