yolowire.com - Shareholders of Amazon (NASDAQ: NASDAQ:AMZN) are calling on the e-commerce company to add Bitcoin (CRYPTO: BTC) to its reserves to help it beat inflation and boost value.
"Corporations have a responsibility to maximize shareholder value over the long-term as well as the short-term. Diversifying the balance sheet by including some Bitcoin solves this problem," according to a shareholder proposal that’s been made public by conservative think tank the National Center for Public Policy Research.
"At minimum, Amazon should evaluate the benefits of holding some, even just 5%, of its assets in Bitcoin," adds the shareholder proposal.
Bitcoin, the leading cryptocurrency by market capitalization, has surged this year, topping the $100,000 U.S. mark for the first time in recent days.
The shareholder proposal highlights the strategy of software firm turned serial Bitcoin acquirer MicroStrategy (NASDAQ: MSTR), which has become the largest corporate holder of BTC in the world with about $30 billion U.S. of the digital asset on its books.
Amazon currently has $585 billion U.S. in total assets, of which $88 billion U.S. is held in cash and marketable securities such as Treasury notes.
The company’s current asset mix isn't adequately protecting shareholder value, argues the Bitcoin proposal.
Amazon isn’t the only technology company being urged to acquire Bitcoin and other cryptocurrencies as their prices surge.
In November, a similar shareholder proposal was submitted to Microsoft (NASDAQ: NASDAQ:MSFT), urging the technology giant to add BTC to its reserves.
Microsoft shareholders are scheduled to vote on whether to acquire Bitcoin on Dec. 10.
The stock of Amazon has risen 51% this year to trade at $227 U.S. per share. Bitcoin is currently trading at $99,000 U.S., having gained 124% on the year.