Shareholders of Amazon.com, Inc. (NASDAQ: AMZN) have submitted a proposal calling on the $2.3 trillion tech conglomerate to consider adding Bitcoin to its balance sheet. The measure, introduced by the National Center for Public Policy Research and scheduled for discussion at Amazon’s annual shareholder meeting in April 2025, calls on the company’s board to evaluate whether including BTC as a treasury asset would serve the best long-term interests of shareholders.

Will Amazon buy Bitcoin?

In the proposal, shareholders emphasize that Amazon’s current treasury management may be insufficient in the face of persistent inflation. As the proposal states: “Corporations that invest their assets wisely can – and often do – increase shareholder value more than more profitable companies that do not.”

Supporting materials show that Amazon’s current treasury includes approximately $88 billion in cash, cash equivalents and marketable securities, out of total assets of $585 billion as of September 30, 2024. The authors of the proposal argue that inflationary pressure and lower-than-inflation bond yields weaken the purchasing power of these holding companies.

They cite an average annual U.S. Consumer Price Index (CPI) of 4.95% over the past four years, sometimes peaking at 9.1%, while suggesting that “the actual rate of inflation is much higher” . In this context, the text of the proposal implies that Amazon has a “fiduciary duty” to consider inflation-resistant assets.

Shareholders point to Bitcoin’s historical gains to strengthen their case. They note that as of December 6, 2024, BTC’s price was up 131% year-over-year, outperforming corporate bonds “by an average of 126%.”

Over a five-year horizon, Bitcoin’s price rose 1,246%, outperforming corporate bond returns by an estimated 1,242% over that period. “Amazon should – and perhaps has a fiduciary duty – to consider adding to its treasury assets that are worth more than bonds, even if those assets are more volatile in the short term,” the proposal states.

The document also refers to other listed companies holding BTC. The proposal shows that MicroStrategy, one of the first companies to adopt the solution in the market, saw its shares outperform Amazon’s shares by 537% compared to the previous year.

Additionally, institutional players such as BlackRock and Fidelity – both of which have significant stakes in Amazon – have introduced Bitcoin-focused investment products for their clients. Shareholders further suggest that U.S. government policy could shift toward a “Bitcoin Strategic Reserve” by 2025, which could signal broader mainstream acceptance.

“Shareholders request that the Board conduct an assessment to determine whether adding Bitcoin to the Company’s treasury is in the best long-term interests of shareholders,” the proposal concludes.

This push at Amazon follows a similar initiative at Microsoft. As Bitcoinist reports, Microsoft (MSF) shareholders are scheduled to vote on December 10 on a proposal to include Bitcoin in their treasury as a reserve asset. However, analysts note that the chances of approval are low after Microsoft’s board recommended a “no” vote.

At the time of publication, the BTC price was $99,136.

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