Amazon shareholders from a conservative think-tank have sent the retailer and tech giant a proposal, asking it to establish a Bitcoin Treasury Reserve following the record breaking run of the biggest cryptocurrency.
As a shareholder The following is a proposal for a new way to view the world. National Center for Public Policy Research, in a request dated the 6th of December asked Amazon to hold at least 5% its assets as Bitcoin. The think tank argued that converting Amazon's assets into the cryptocurrency could protect the value of those funds in an intense inflationary environment.
“Though Bitcoin is currently a volatile asset… corporations have a responsibility to maximize shareholder value over the long-term as well as the short-term,” The shareholder’s proposal was written by the Think Tank.
CoinGecko: Bitcoin currently trades at $97.020. The following are some of the most effective ways to increase your ROI: Shows, down more than 3% for the day. Last week, the token reached a record-breaking price of $103,679 and is up 27% in the past month.
The company's shareholders will likely vote on the matter at their annual meeting, which usually occurs in the spring. Before the vote, the company’s board will also likely make a recommendation on the matter.
National Center for Public Policy Research didn’t immediately reply to Decrypt's A request was made for comments regarding the feasibility of the proposed proposal. Amazon could also not be reached before publication.
Think tank tries to persuade tech giant Microsoft that Bitcoin should be added to their own balance sheet. Shareholders will vote Tuesday on the proposal. The firm's board has recommended that shareholders vote against the Bitcoin proposal.
MicroStrategy founder and Executive Chairman Michael Saylor pitched the company's directors earlier this month on converting Microsoft's $200 billion worth of capital distributions into Bitcoin holdings. Saylor's firm is the largest corporate holder of Bitcoin, with approximately $42 billion worth.
In October and September of this year, the U.S. rate of inflation increased by 2.6% and 2,4%, respectively, just after Federal Reserve started to cut interest rates. Recent growth in consumer prices remains above the Fed's 2.0% target.
Amazon is able to ignore the issue of inflation, and has also benefited from other economic factors. In the third quarter of 2013, Amazon’s cloud computing business and its advertising division were largely responsible for its robust financial performance.
The Seattle-based tech giant's recorded $158.9 billion in revenue for the quarter ending on September 30, up 11% from the same time last year, You can also read about it here to the company's financial statements. Profits soared up to $15.3 billion, a new record.
The company's stock is trading at $228 as of writing time, marking a 52% increase in its value since the start of 2024.
Andrew Hayward edited the book