The approval of spot Bitcoin ETFs in the US and the re-election of cryptocurrency supporter Donald Trump as president have boosted institutional Bitcoin adoption.
At this point, while many institutions added BTC to their reserves one after another, the last move came from technology giant Amazon.
Amazon (AMZN) shareholders want the company to follow MicroStrategy’s lead by allocating some of its reserves to Bitcoin (BTC) to help combat inflation and increase shareholder value.
In a shareholder proposal shared by US think tank the National Center for Public Policy Research (NCPPR), it was stated that Amazon has a responsibility to diversify into assets such as Bitcoin that outperform bonds.
Accordingly, the shareholder proposal included the following statements:
“While Bitcoin is currently a volatile asset (Amazon stock has been volatile throughout its history), companies have a responsibility to maximize shareholder value both in the long term and the short term.
Diversifying by adding some Bitcoin to the balance sheet solves this problem without taking on too much volatility.”
At this point, the suggestion was that Amazon should allocate at least some of its assets, even just 5 percent, to Bitcoin.
The Amazon shareholders’ proposal also caught the attention of former Binance CEO CZ, who expressed his curiosity about whether Amazon would adopt BTC payments.
CZ expressed his curiosity on X whether tech giant Amazon would adopt Bitcoin payments.
Simple. Accept bitcoin payments? 🤷♂️ https://t.co/ud5PVNYHrj
— CZ 🔶 BNB (@cz_binance) December 8, 2024
*This is not investment advice.
