Amazon Shareholders Suggest Company Invest in Bitcoin
The success of MicroStrategy through its massive investments in Bitcoin has prompted a group of shareholders in the e-commerce giant Amazon to submit a proposal calling on the company to allocate a portion of its assets to Bitcoin.The contributors, represented by the National Center for Public Policy Research (NCPPR), are proposing that Amazon should allocate at least 5% of its total assets to investing in Bitcoin.This suggestion is based on the outperformance of MicroStrategy shares over the past year, with Amazon shares up 537% and MicroStrategy shares up much less.Proponents of this proposal argue that investing in Bitcoin can serve as a hedge against inflation, and that diversifying Amazon's investments to include digital assets such as Bitcoin will enhance the company's flexibility and ability to achieve higher returns in the long term.Amazon has total assets of about $584.62 billion, which means that allocating 5% is equivalent to investing about $29.23 billion in Bitcoin.