Is Amazon about to buy Bitcoin? Shareholders DEMAND Bitcoin investment! | Bitcoin News by CoinCorner

Transcript

Microsoft pass on the opportunity of adding Bitcoin to their balance sheet, potentially missing out on adding $5 trillion dollars to their market cap. MicroStrategy looked like they're heading for inclusion in the NASDAQ 100 index later this month, and El Salvador, the first country to introduce Bitcoin as legal tender, share their enormous unrealized profits from their bets on Bitcoin.

Welcome back to Bitcoin news, brought to you by CoinCorner. I'm your host, Alex Glass. Now let's get straight into this week's top stories.

Looking first at the price: following last week's excitement where Bitcoin broke $100,000 for the first time ever, this week's price action has been fairly uneventful as it's consolidated between $95,000 and $103,000 per coin. Despite there not being any huge moves since Trump's election victory, the price is still gradually grinding up, continuing to discover new all-time highs.

Now, regardless of this positive price action, one company who is not looking to gain exposure to the asset is Microsoft, who, in a shareholder vote this week, decided that they will not be adding Bitcoin to their balance sheet. Prior to the meeting, free market think tank group The National Center for Public Policy Research proposed the idea, framing it as a corporate duty to provide value to shareholders through profit diversification. They also submitted a pre-recorded video outlining their proposal, which was played during the shareholders meeting, and it conveyed the clear message that Microsoft can't afford to miss the next technology wave, and Bitcoin is that wave.

They recommended between a 1% and 5% allocation of the firm's profits to purchase Bitcoin, making clarification that Bitcoin is a more volatile asset than corporate bonds and advised against holding too much of it, but to ignore it altogether would be risking shareholder value.

Prior to the meeting, MicroStrategy founder Michael Saylor also gave a three-minute presentation to Microsoft's board making a similar case, suggesting that it could add almost $5 trillion to their market cap if they were to go all in. But despite all of this, Microsoft's board was unswayed ahead of the vote, and it appears shareholders were too, as the proposal only gained 0.55% of votes in favor of the Bitcoin investment plan.

Now, also on the topic of corporate Bitcoin adoption, NCPPR have also submitted a proposal to Amazon urging them to allocate at least 5% of their assets to Bitcoin. The proposal recommends the addition of Bitcoin to Amazon's treasury as both a hedge against inflation and as an asset diversification strategy. It cites Bitcoin's superior performance compared to traditional assets like corporate bonds, while pointing to existing Bitcoin investments by companies such as MicroStrategy and Tesla.

MicroStrategy, which holds huge amounts of Bitcoin on their balance sheets, has had its stock outperform Amazon by 5.37% over the past year, and the proposal calls for Amazon's board to evaluate whether Bitcoin treasury allocation serves shareholders' long-term interests.

Once a shareholder proposal is filed, Amazon's board of directors will review it and decide whether to include it in Amazon's proxy statement for the upcoming annual shareholders meeting scheduled for April 2025. This could give shareholders the chance to vote for or against the proposal. Now, speaking of MicroStrategy, it's expected this month that they will be added to the NASDAQ 100 index. In a post on X, Bloomberg's senior ETF analyst Eric Balunis predicts that due to its recent increased market cap, it will likely be added on the 23rd of December with an announcement as soon as Friday the 13th. His prediction would give MSTR a weighting of 0.47%, assuming a ranking of 40 in the index. This would then lead to an expected net buying of at least $2.1 billion worth of shares by ETFs which track the index. The company's share price has already achieved over 500% year-to-date. They own 2% of the entire Bitcoin supply, and this could be yet another huge milestone that could add even more momentum to the company.

Now, one business playing close attention to MicroStrategy's remarkable success is Riot Platforms, who this week announced plans to raise $500 million to buy Bitcoin, emulating MicroStrategy's playbook. Riot plans to issue unsecured convertible senior notes through a private offering to qualified institutional investors, which would mature in 2030, giving investors the option to redeem the bond with agreed interest or convert it into Riot's common stock.

According to The Miner Mag, seven publicly traded Bitcoin miners and data centers, not including Riot, have issued similar convertible bonds since June earlier this year, the proceeds of which raised a total of $5.2 billion, demonstrating the strong demand.

Now, following Riot's announcement, Saylor shared his approval on X, saying that Riot is a company on the Bitcoin standard.

Moving away from corporate adoption, for our final story, it's been revealed that El Salvador is now sitting on unrealized profits of over $300 million following Bitcoin reaching $100,000 last week. President Nayib Bukele shared a post on X showing the country's Bitcoin portfolio, which is now worth over $600 million, sitting on an unrealized profit of $333 million, which is up 117%.

In 2021, Bukele made the bold decision to become the first country in the world to introduce Bitcoin as legal tender, and the nation began purchasing Bitcoin for the first time. Since then, the country has continued buying more and more Bitcoin, dollar-cost averaging one Bitcoin per day, which has helped to increase the country's wealth and boost tourism, while simultaneously cracking down on crime to improve the overall living standards for residents.

Despite receiving ongoing criticism from global institutions like the IMF, requesting they stop recognizing Bitcoin as legal tender and reduce their public sector exposure to the assets, Bukele has remained unwavering in his conviction, which seems to be paying off big time.

Unfortunately, that is all we have for you today. So, as always, make sure to hit that subscribe button down below, and I'll see you next week with more Bitcoin news.