Why tech giants like Amazon may hesitate to adopt Bitcoin
Big Tech has a great flow of cash on hand. Currency devaluation makes them lose purchasing power. Is Bitcoin a treasury solution to fight against inflation? Amazon is the next to decide.
Big Tech companies like Amazon have a large amount of cash on hand — $87 billion last year — which loses purchasing power as the currency evaluates.
Washington DC-based think tank The National Center for Public Policy Research (NCPPR) has submitted shareholder proposals to adopt Bitcoin (BTC) as a solution. However, whether tech giants would see major benefits from this remains unclear.
NCPPR has been pushing the strategy at Microsoft and Amazon. In both cases, the think tank believes adopting Bitcoin into their treasury will protect the cash assets and shareholders’ value from inflation.
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Author: Daniel Ramirez-Escudero
