- Amazon shareholders push for 5% Bitcoin allocation, citing diversification and MicroStrategy’s $40B crypto success.
- Microsoft opposes the Bitcoin investment proposal despite shareholder pressure, citing existing asset management strategies.
- Apple leads crypto adoption among Big Tech, with plans for a $250M Bitcoin purchase and Coinbase partnership for Apple Pay users.
Amazon shareholders are advocating for the company to allocate 5% of its assets to Bitcoin. This proposal comes as Microsoft shareholders prepare to vote on a similar move. The growing interest highlights increasing pressure on Big Tech to embrace digital assets amidst evolving financial trends.
Shareholders Highlight Bitcoin’s Long-Term Potential
The idea highlights how Bitcoin might maximize shareholder value while diversifying Amazon’s holdings. The success of MicroStrategy which owns 402,000 Bitcoin valued at almost $40 billion, is indicated by this. Proponents contend that Bitcoin is a feasible long-term asset because its volatility is similar to that of Amazon stock.
Moreover, the proposal outlines how diversifying with Bitcoin could hedge against inflation. This follows broader institutional adoption, spurred by the rise of spot Bitcoin ETFs. Shareholders believe adding Bitcoin would position Amazon as a forward-thinking leader in financial innovation.
Microsoft and Apple Signal Mixed Crypto Approaches
Microsoft faces a similar shareholder proposal urging the company to invest 1% of its assets in Bitcoin. The National Center for Public Policy Research advocates for this move, citing Bitcoin’s effectiveness as an inflation hedge. However, Microsoft’s board opposes the measure, stating it already monitors cryptocurrency trends.
On the other hand, and somewhat in contrast, Apple sounds more bullish on mainstreaming Bitcoin. The sources also suggest that the giant is considering buying $250 million of the cryptocurrency in 2024. More lately, since its integration with Coinbase, crypto-based purchases have become possible in the Apple Pay system. A related signal is CEO Tim Cook admitting to holding Bitcoin since 2019 at least for a year.
Big Tech’s Impact on Bitcoin Adoption
Amazon and Microsoft’s decisions may influence Bitcoin’s adoption in corporate. Increased participation from Big Tech could accelerate mainstream acceptance and institutional confidence in digital assets. Conversely, rejection may reinforce conservative investment approaches among traditional firms.
The challenges Meta faced with its failed Diem project highlight the risks associated with crypto initiatives. However, success stories from Tesla and MicroStrategy provide compelling examples of Bitcoin’s potential in corporate portfolios.
