A group of Amazon shareholders, led by think tank National Center for Public Policy Research (NCPPR), has proposed that the e-commerce giant allocate at least 5% of its assets to Bitcoin.
In a proposal published on Dec. 6, the shareholders suggested that the company diversify its balance sheet with Bitcoin to maximize shareholder value over the long term.
“Though Bitcoin is currently a volatile asset – as Amazon stock has been at times throughout its history – corporations have a responsibility to maximize shareholder value over the long-term as well as the short-term,” the proposal read. “Diversifying with Bitcoin can solve the problem of preserving shareholder value without taking on too much volatility.”
If Amazon allocates 5% of its total assets of $584.62 billion to Bitcoin, the allocated amount would be approximately $29.23 billion. At the current Bitcoin price of $97,000, this would allow Amazon to acquire approximately 301,351 BTC.
Shareholders cited the success of MicroStrategy, which holds the largest corporate Bitcoin portfolio of over 423,650 BTC valued at approximately $42 billion.
According to the letter, cash is consistently being “debased,” while bond yields are “lower than the true inflation rate,” which poses a risk to shareholder value.
“Amazon isn’t adequately protecting billions of dollars of shareholder value simply by holding these assets..Institutional and corporate Bitcoin adoption is becoming more commonplace: more public companies such as Tesla and Block have added Bitcoin to their balance sheets.”
According to data from Arkham Intelligence, Tesla holds approximately 11,509 BTC, now valued at $1.13 billion, while SpaceX owns about 8,285 BTC, worth around $811.93 million. Block, a subsidiary of Block, Inc., holds 8,211 BTC, worth $804.68 million.
Jeff Bezos, as the founder, executive chairman, and former president and CEO of Amazon, has never commented or said anything on Bitcoin in public record.
Amazon ranks fourth on the S&P 500, boasting a market cap of $2.38 trillion, ahead of Google, Tesla, and Meta, but trailing Apple, Nvidia, and Microsoft.
Microsoft to Decide on Bitcoin Allocation
Amazon’s proposal follows a similar push at Microsoft, where shareholders will vote on Dec. 10 on whether the tech giant should diversify with Bitcoin.
NCPPR recommended Microsoft invest at least 1% of its total assets in Bitcoin.
However, Microsoft’s board of directors has opposed the move, arguing that the company already monitors cryptocurrency trends.
“Microsoft continues to monitor trends and developments related to cryptocurrencies to inform future decision-making,” the board wrote, calling the requested public assessment “ unwarranted .”
The surge in interest in Bitcoin coincides with the cryptocurrency reaching an all-time high of $103,679, on Dec. 5. Currently, BTC is trading at $97,806, down 2% from its peak.
Over the past 30 days, BTC has climbed 30%, driven by optimism surrounding regulatory easing in the U.S. under President-elect Donald Trump, who is expected to adopt a more crypto-friendly stance.
The MicroStrategy Effect
MicroStrategy’s success with Bitcoin has become a blueprint for corporate treasuries. The company’s holdings, now worth over $42 billion, have inspired other firms to follow suit.
MARA, a leading Bitcoin mining company formerly known as Marathon Digital Holdings, has employed a strategy similar to MicroStrategy’s by issuing corporate debt to bolster its Bitcoin reserves.
MARA now holds 34,959 BTC, valued at $3.3 billion, making it the largest Bitcoin holder among public miners.
The trend is reshaping treasury management across Asia, with major players such as Boyaa Interactive and Sora Ventures making strategic moves.
Hong Kong-based Boyaa Interactive, an online board games manufacturer, disclosed a treasury reallocation on Nov.29, selling 14,200 Ethereum (ETH) for $49 million to acquire 515 Bitcoin. This transaction, executed between Nov. 19 and Nov. 28, brings Boyaa’s total Bitcoin holdings to 3,183 BTC.
Sora Ventures, Taiwan based venture-capital firm, has launched a $150 million fund aimed at advancing Bitcoin-first treasury strategies for listed companies across Asia.
Modeled after MicroStrategy’s approach, the fund will target firms in Japan, Hong Kong, Thailand, Taiwan, and South Korea, helping them optimize financial strategies by leveraging Bitcoin as a primary reserve asset.
