Will Amazon Reject The Bitcoin Proposal Like Microsoft?
- Donald Trump envisions transforming the US into the global leader in the crypto space.
- The NCPPR has proposed a paper to Microsoft and Amazon to create a Bitcoin strategic reserve.
- While Microsoft rejected the proposal, enthusiasts believe Amazon will embrace Bitcoin reserves.
The US crypto market is on the cusp of a revolutionary reform under President-elect Donald Trump, driven by his crypto-focused policies. Trump’s strategic Bitcoin reserve proposal, the appointment of the country’s first-ever “crypto czar,” and the new SEC Chair boost the community’s confidence in the US crypto future. With Trump at the helm, the US is poised to become the global leader in the crypto space.
Reportedly, smaller companies in the country have been inspired by Trump’s Bitcoin proposal. Biotech firms like Enlivex Therapeutics, Acurx Pharmaceuticals(ACXP.O), and Hoth Therapeutics (HOTH.O) have decided to purchase up to $1 million of bitcoin to hold as a treasury reserve asset.
The National Center for Public Policy Research (NCPPR) recently submitted a shareholder proposal urging Microsoft and Amazon to adopt Bitcoin. The paper recommended holding about 1-5% of their assets in Bitcoin as a hedge against inflation. The team highlighted Bitcoin’s staggering 1,246% price increase over the past five years, contrasting with the fiat’s devaluation.
Despite MicroStrategy founder Michael Saylor’s strong backing, Microsoft rejected the proposal, citing volatility and other vulnerability concerns. The company remains skeptical towards Bitcoin’s potential, reflecting founder Bill Gates’ lack of enthusiasm for cryptocurrencies. The shareholders asserted that they prefer stable and secure choices over cryptocurrencies.
Now, Bitcoin aspirants eagerly await Amazon’s verdict. Will the industry titan opt to adopt Bitcoin and diversify its portfolio?
Investors believe that Amazon would choose to embrace Bitcoin reserve, unlike Microsft. According to Nick Cowan, CEO of fintech firm Valereum, Amazon’s shareholders will likely accept the proposal, given the company’s history of innovation and risk tolerance. He posited that Amazon boasts a track record of adopting innovative technologies and exploring unconventional investments. He added, “Unlike Microsoft, Amazon’s higher willingness to innovate might align with Bitcoin’s potential for diversification.”
“We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” said Trump. To drive his vision forward, Trump has appointed crypto-friendly candidates David Sacks as the crypto czar and Paul Atkins as the SEC Chair. However, the success of Trump’s Bitcoin reserve strategy hinges on the cooperation of tech giants.
While Trump envisions making the US the crypto leader, the two major conglomerates are hesitant to invest in digital assets. If they adopted, Trump’s vision could be easily attained as both firms could influence a wider market to adopt the crypto currency.
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