Join Our Telegram channel to stay up to date on breaking news coverage
Amazon shareholders have urged the company to invest at least 5% of its reserves in Bitcoin (BTC) to beat inflation and boost shareholder value, and cited the performance of Michael Saylor’s MicroStrategy.
“At minimum, Amazon should evaluate the benefits of holding some, even just 5%, of its assets in Bitcoin,” a shareholder proposal shared by the National Center for Public Policy Research (NCPPR) said.
Amazon Shareholders Say Company Should Look Past Bitcoin Short-Term Volatility
While noting the high short-term volatility of Bitcoin’s price, the Amazon shareholders said in their proposal that the company has the “responsibility to maximize shareholder value over the long-term as well as the short-term.”
Amazon can accomplish this by diversifying its balance sheet to include holdings in the leading crypto, according to the shareholders’ proposal.
At the end of the third quarter, Amazon had $585 billion in total assets, which included $88 billion in cash, cash equivalents and marketable securities. This mix of assets does not adequately protect shareholder value, the proposal argued.
The Amazon shareholders also highlighted the phenomenal performance of MicroStrategy’s stock (MSTR) this year. In 2024, MSTR has soared over 500%, while Amazon’s stock only posted a 49% rise during the same period. MSTR has also outperformed gold and the S&P 500 in the last 12 months.
Apple, Google, Amazon, Microsoft and these 10 companies hold $811 BILLION in cash. ZERO #Bitcoin
Every year cash loses purchasing power.
They should buy a little ₿itcoin.
"…in case it catches on". 😉 pic.twitter.com/f6UfpAom1B
— Bitcoin Archive (@BTC_Archive) December 8, 2024
MSTR’s performance comes after the flagship cryptocurrency surged more than 134% this year, piercing the psychological $100K barrier recently.
MicroStrategy is the world’s biggest corporate holder of Bitcoin. It holds 402,100 BTC worth about $39 billion.
Microsoft Shareholders To Make Bitcoin Investment Decision Tomorrow
The NCPPR also submitted a similar proposal to software giant Microsoft from its shareholders. The company’s board has already urged the firm’s shareholders to reject the proposal. Meanwhile, Saylor gave a presentation earlier to Microsoft’s board about the benefits of investing in Bitcoin.
Now, Microsoft shareholders are scheduled to vote on the proposed diversification into BTC tomorrow during the company’s annual shareholder meeting.
Related Articles:
- Pepe Unchained Launch: What To Know About The $73 Million Presale
- Trump Names Former PayPal COO David Sacks As AI And Crypto Czar
- Pepe Coin Reaches New All-Time High – What’s Next for $PEPE?
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
Join Our Telegram channel to stay up to date on breaking news coverage
