National Center for Public Policy Research Proposes Bitcoin Treasury Strategy for Amazon

The National Center for Public Policy Research (NCPPR), a Washington D.C.-based think tank that advocates for free markets, has proposed a bold idea for Amazon: adopting a Bitcoin (BTC) corporate treasury strategy. The think tank has submitted a shareholder proposal urging the retail giant to consider this strategy at its April 2025 shareholder meeting, citing the growing financial benefits of Bitcoin as an asset class.

The proposal comes at a time when inflation continues to erode the purchasing power of cash and short-term cash equivalents. In the letter, the NCPPR critiques the Consumer Price Index (CPI) — the traditional measure of inflation — as a “remarkably poor measure” of true currency debasement. The authors argue that the real inflation rate could be twice as high as the reported CPI figure of 4.95%. This, they claim, is a significant threat to Amazon's $88 billion in cash and short-term investments. To safeguard shareholder value, the NCPPR suggests Amazon allocate a portion of its treasury to Bitcoin, a move they believe would hedge against inflation and protect its assets.

Bitcoin as a Hedge Against Inflation

According to the think tank’s letter, Bitcoin’s recent performance speaks volumes about its potential as a treasury asset. As of December 6, 2024, Bitcoin had increased by 131% over the previous year, significantly outpacing the average performance of corporate bonds, which grew by just 126%. Over the past five years, Bitcoin surged by an impressive 1,246%, again outstripping corporate bonds, which grew by just 1,242% on average.

The NCPPR concluded that Amazon should consider allocating at least 5% of its assets to Bitcoin in order to better protect the value of its treasury assets. The letter references the success of MicroStrategy, a business intelligence firm, as a compelling case for adopting this strategy. MicroStrategy's Bitcoin treasury strategy has been widely regarded as a financial success, with the company’s Bitcoin holdings now worth over $40 billion, translating to an estimated $17 billion in profit.

MicroStrategy’s Bitcoin Treasury Strategy: A Model for Others

MicroStrategy, led by founder Michael Saylor, is widely credited with popularizing the corporate Bitcoin treasury strategy, which has since been adopted by other companies and institutional investors. MicroStrategy began buying Bitcoin in 2020 and has since accumulated over 140,000 BTC. The company’s decision to hold Bitcoin in its corporate treasury has turned out to be highly profitable, with its Bitcoin holdings seeing massive gains over the years.

MicroStrategy’s success has inspired other organizations to follow suit. For example, Marathon Digital Holdings (formerly known as MARA), a major cryptocurrency mining company, took a similar approach in November 2024. The company raised $1 billion through a 0% interest convertible note offering and used the funds to purchase 6,474 Bitcoin for its corporate treasury.

Artificial intelligence firm Genius Group also joined the trend in November 2024 by converting a portion of its treasury assets into Bitcoin. The company began its Bitcoin accumulation by purchasing 110 BTC at an average price of around $90,932 per coin.

Why Amazon Should Consider a Bitcoin Treasury

The NCPPR's proposal to Amazon highlights the growing acceptance of Bitcoin as a legitimate asset class, especially as more corporations and institutional investors embrace it. Bitcoin’s limited supply and decentralized nature make it an appealing alternative to fiat currencies, which are increasingly susceptible to inflation and government manipulation.

For Amazon, adopting a Bitcoin treasury strategy could serve as a safeguard against inflationary pressures, potentially boosting shareholder confidence and securing the company's financial future. While the company has not yet made any public moves toward incorporating Bitcoin into its treasury, the proposal from the NCPPR signals that there is increasing support for the idea.

As more companies explore the benefits of Bitcoin and other cryptocurrencies, the push for corporate treasuries to adopt digital assets could become a defining trend in the business world. For Amazon, embracing this innovation could set it apart as a forward-thinking company that is proactively adapting to the changing financial landscape.