Amazon shareholders are advocating for the company to diversify its reserves by investing in bitcoin (BTC) to combat inflation and enhance shareholder value. A proposal from the National Center for Public Policy Research (NCPPR) argues that while bitcoin is volatile, including it in Amazon's balance sheet could help maximize long-term shareholder returns without excessive risk. The proposal suggests that Amazon should consider holding at least 5% of its assets in bitcoin.
Bitcoin has experienced significant growth, rising 134% this year and surpassing the $100,000 mark, outperforming traditional assets like gold and the S&P 500. In contrast, MicroStrategy, a major bitcoin holder, has seen its shares increase by over 500%. The proposal cites MicroStrategy's success and the adoption of bitcoin by companies like Tesla and Block, emphasizing Amazon's fiduciary duty to look beyond short-term asset volatility.
As of the end of the third quarter, Amazon's total assets stood at $585 billion, with $88 billion in cash and marketable securities. The NCPPR argues that this asset mix does not sufficiently protect shareholder value. A similar proposal was recently submitted by Microsoft shareholders, who are set to vote on the matter on December 10.
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