As a seasoned financial analyst with over two decades of experience in the ever-evolving world of finance and technology, I find the recent debate surrounding Amazon’s potential adoption of Bitcoin as a form of payment and strategic reserve quite intriguing.
Previously serving as the CEO of Binance, Changpeng ‘CZ’ Zhao proposes that Amazon should allow Bitcoin as a method of payment, following the suggestion from their shareholders urging the technological powerhouse to explore the integration of Bitcoin into its holdings.
In a recent post, CZ responded to the news about Amazon shareholders requesting board members to conduct an assessment to decide on whether the tech giant should consider adding Bitcoin (BTC) its strategic reserve.
Previously, the leader of Binance proposed an idea for the business: they should begin accepting Bitcoin as a form of payment in their online marketplace. This move would serve as a means to assess the worth of Bitcoin relative to conventional currencies by providing them with a clearer understanding and perspective.
“Simple. Accept Bitcoin payments?” CZ wrote in his post.
In another discussion, Joel Valenzuela from Dash raised an interesting point towards CZ, asking why Bitcoin was considered suitable for Amazon transactions if it falls short as a payment option compared to many other cryptocurrencies overall.
In simpler terms, CZ concurred with Valenzuela, explaining that he completed a transaction using Bitcoin valued at approximately $17.08. The confirmation of this payment from the receiver took around 15 minutes. Despite this delay, CZ maintained his belief that Bitcoin is a superior payment method compared to traditional finance options such as credit transfers. This is because errors in credit transfers can lead to longer wait times.
Even superior to traditional finance, it seems. No need for a phone call to troubleshoot; it fixed itself after a quarter of an hour. Indeed, that’s the beauty of crypto,” said CZ.
A majority of comments beneath CZ’s post share a similar positive outlook, suggesting that Amazon might eventually venture into Bitcoin investment. As we previously learned from crypto.news on December 8, the National Center for Public Policy Research, a renowned global conservative think tank, recommended that Amazon could consider incorporating Bitcoin in its strategic reserves.
Given that a significant portion of Amazon’s overall wealth is held in cash, cash equivalents, and government bonds, a think tank based in Washington suggests that the decline in the returns from these fixed-income investments could potentially leave Amazon’s shareholder value of billions at risk if not properly safeguarded.
Consequently, the NCPPR proposed that Amazon should consider increasing its holdings with assets not limited to conventional finance, specifically Bitcoin. While they admit Bitcoin’s volatile character, their argument advocates for Amazon to expand its financial portfolio by investing around 5% of its total assets in Bitcoin.
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2024-12-09 13:15