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Amazon Shareholders Propose 5% Treasury Investment in Bitcoin to Hedge Inflation
Dec 8, 2024, 07:45 PM
Amazon.com Inc., valued at $2.3 trillion, has received a shareholder proposal urging the board to consider investing in Bitcoin. The National Center for Public Policy Research submitted the proposal recommending that Amazon allocate 5% of its $88 billion treasury to Bitcoin to hedge against inflation. The shareholders expressed concerns over inflation eroding cash reserves and cited MicroStrategy Inc.'s $40 billion Bitcoin holdings as an example. The proposal aims to assess whether adding Bitcoin to the company's treasury is in the best long-term interests of shareholders.
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