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Amazon Shareholders Propose 5% Bitcoin Treasury Allocation Amid Inflation Concerns
Dec 8, 2024, 08:28 PM
Amazon shareholders, led by The National Center for Public Policy Research, have submitted a proposal for the $2.3 trillion company to consider adding Bitcoin to its treasury. The proposal suggests that Amazon should allocate at least 5% of its $88 billion in cash assets into Bitcoin, citing rampant inflation as a key reason for diversifying into the cryptocurrency. This move is seen as a way to protect Amazon's financial reserves from inflation, with the argument that traditional cash reserves are losing value faster than inflation rates suggest. Amazon's shareholders meeting is scheduled for this week to discuss this proposal.
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