Amazon is feeling the heat from its shareholders, who are pushing the tech titan to jump on the Bitcoin bandwagon as a way to hedge against sneaky inflation rates. Imagine Amazon's massive cash pile turned into a treasure chest of Bitcoin! That's what the shareholders are dreaming about.
These savvy investors are saying, “Hey, Amazon, how about sprinkling some Bitcoin magic into your treasury strategy?” They believe this could not only safeguard their investments but also keep Amazon on the cutting edge of financial trends.
The brains behind this bold move? The National Center for Public Policy Research (NCPPR), a conservative think tank that's urging Amazon to consider parking part of its hefty $88 billion cash reserve into Bitcoin. They argue that traditional inflation measures, like the Consumer Price Index (CPI), are playing hide and seek with the real inflation numbers, which they peg closer to a whopping 10%.
Bitcoin, with its roller-coaster ride of a history, has still managed to outrun traditional financial players like corporate bonds. The proposal points to big players like MicroStrategy, sitting pretty with over 402,000 BTC valued at a jaw-dropping $40 billion, and Tesla, as shining examples of Bitcoin adoption.
Word on the street is that if Amazon takes the plunge into Bitcoin, it could set off a domino effect, nudging other giants like Apple to follow suit. Even Changpeng Zhao from Binance is cheering from the sidelines, saying Bitcoin payments could be Amazon’s next big move.
Meanwhile, the think tank is keeping busy, having recently pitched a similar Bitcoin plan at Microsoft's shareholder meeting. They suggested Microsoft put at least 1% of its assets into Bitcoin to dodge inflation and economic woes. Microsoft's board, however, wasn't too keen and asked shareholders to give it the thumbs down, claiming they've already got their eyes on the crypto scene.
In a twist of events, MicroStrategy's co-founder Michael Saylor also gave Microsoft a nudge, urging them to get cozy with Bitcoin in a big way. Looks like Bitcoin fever is spreading, and who knows which corporate giant will catch it next!
