Amazon Urged to Embrace Bitcoin as Payment and Treasury Asset

Debate Over Bitcoin as a Payment Option
Potential Impact on Amazon and Crypto Markets
A Strategic Move for Financial Innovation?

Former Binance CEO Changpeng “CZ” Zhao has joined the conversation around Amazon potentially adopting Bitcoin. Zhao’s comments came after reports that Amazon shareholders urged the company to add Bitcoin to its strategic reserves. This proposal, submitted by the National Center for Public Policy Research (NCPPR), argues that Bitcoin could safeguard shareholder value against weakening cash and bond yields.

Debate Over Bitcoin as a Payment Option

While some view Bitcoin’s adoption as a transformative step, others question its efficiency as a payment method. Joel Valenzuela of Dash challenged Zhao, pointing out that faster and cheaper cryptocurrencies exist. Zhao admitted that Bitcoin transactions, like his $17.08 payment that took 15 minutes to confirm, can be slow. Still, he argued that Bitcoin is an improvement over traditional banking systems, which can take days and suffer from errors.

Potential Impact on Amazon and Crypto Markets

Amazon accepting Bitcoin could significantly impact both the company and the crypto ecosystem. Users on X expressed enthusiasm, with one stating, “If Amazon starts accepting crypto, it could transform the market.” Another predicted Bitcoin’s potential to become a global currency within the next decade, urging Amazon to act early.

A Strategic Move for Financial Innovation?

The NCPPR suggests Amazon allocate at least 5% of its reserves to Bitcoin, citing its potential to hedge against market volatility and enhance financial innovation. While the idea sparks debate, it highlights the growing demand for mainstream crypto adoption and its implications for global financial systems.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

amazon bitcoin as payment

Amazon Urged to Embrace Bitcoin as Payment and Treasury Asset

Sujit Kumar

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.