Amazon Shareholders Offer $29.3 Billion in Bitcoin
$BTC #BTC_Update Shareholders of e-commerce market leader Amazon (NASDAQ: AMZN ) have proposed that the company's management invest $29.3 billion in bitcoins.
"The shareholders have asked the board to conduct a study to assess whether the contribution of bitcoins to the company's coffers will benefit shareholders in the long term, said a bitcoiner known by the pseudonym Man_Of_Sats."
Man_Of_Sats published a letter sent by Amazon shareholders to the company's directors, in which they complained about the high inflation rate in the United States, which they said exceeded 9%. As of September 30, 2024, Amazon employees held 15% of the capital, worth $88 billion, in dollars, their equivalents, and securities. Due to the devaluation of fiat currency and bond yields that turned out to be lower than the inflation rate, the company's assets are constantly depreciating, so the current strategy of saving savings is ineffective.
Letter sent by Amazon shareholders to the board of directors
To solve this problem, Amazon stock owners have come up with an initiative to invest at least 5% of their $29.3 billion capital in bitcoins. This will diversify the investment portfolio and minimize the risks associated with the high level of volatility of the cryptocurrency rate.
Amazon's board has not yet responded to the shareholders' request, but Man_Of_Sats believes that the company's management will have to approve the investment in bitcoin. Otherwise, holders of securities may dump them to invest in more promising instruments.
What do you think about this topic and what changes will there be in BTC?