The Daily Mail exclusively reported yesterday that Amazon founder Jeff Bezos will hold a wedding on December 28, marrying his girlfriend Lauren Sánchez, with the total cost of the wedding possibly reaching $600 million, but Bezos himself posted a message refuting the report, emphasizing that "none of the things in it are true".
Interestingly, amid the heated discussion, Michael Saylor, co-founder and executive chairman of the publicly traded Bit company MicroStrategy, the Bit holding giant, cleverly shifted the topic, replying:
$600 million can buy a lot of Bit
Previously, the conservative think tank "National Center for Public Policy Research" (NCPPR) had just proposed to Amazon, requesting that the board of directors evaluate the feasibility of incorporating Bit into the company's asset reserves at the shareholders' meeting in April 2025, and recommending that Amazon invest at least 5% of its assets in Bit.
NCPPR had previously also proposed that Microsoft invest at least 1% of its total assets in Bit to combat the impact of inflation, and Michael Saylor also presented a three-minute speech he delivered to Microsoft's board of directors, strongly encouraging Microsoft to purchase Bit, but the Microsoft board had rejected the proposal earlier this month.
Is it reasonable for Amazon to invest in Bit?
According to the Washington Post report, according to NCPPR's proposal, Amazon's cash and bond reserves are "depreciating" due to inflation, and according to Amazon's financial report as of the end of the third quarter, its cash and cash equivalents are about $585 billion, 5% of which is about $29.25 billion.
Morningstar analyst Dan Romanoff believes: "While gold is generally considered the most suitable asset for hedging inflation, Bit may be a more useful inflation hedge tool, as both Bit and gold have outpaced inflation over the past five years, with Bit's gains being relatively much larger."
Dan Romanoff said that although there is not yet a large amount of historical data showing the performance of cryptocurrencies in different economic cycles, a small investment in Bit would be relatively reasonable if Amazon could invest a small portion of its cash in Bit.
However, Oppenheimer analyst Jason Helfstein said that "a company holding Bit instead of cash may result in losses, and currently this does not seem necessary, as inflation has eased and interest rates are still relatively high."
