Changpeng Zhao Proposes Simple Strategy for Amazon to Adopt Bitcoin

• Amazon's Bitcoin lawsuit awaits shareholder decision.
• Changpeng Zhao suggests Bitcoin as a payment option.
• Microsoft rejects similar proposal, market reacts with volatility.

Tech giant Amazon is about to face a crucial debate at its upcoming annual shareholder meeting. A proposal put forward by the National Center for Public Policy Research suggests the company consider adding Bitcoin (BTC) to its treasury. corporate . The objective would be to determine whether this strategy can benefit the long-term interests of shareholders.

Meanwhile, Binance co-founder Changpeng Zhao (CZ) shared a straightforward approach on social media. “Simple. Accept Bitcoin payments?” Zhao wrote on the X platform, suggesting that Amazon could integrate the cryptocurrency into its day-to-day operations without much hassle.

Some truth to that. I paid $17.08 in bitcoin yesterday, and had to wait 15 minutes for it to confirm. 😂

Still better than TradFi though. I didn't have to call anyone to fix it. It just worked after 15 min.

Crypto, I agree.

— CZ 🔶 BNB (@cz_binance) December 9, 2024

While the comment was objective, CZ acknowledged the limitations of Bitcoin as a payment method. He recounted a recent experience, saying: “I paid $17,08 in Bitcoin yesterday and had to wait 15 minutes for confirmation. It’s still better than the traditional financial system. I didn’t have to call anyone to get it sorted. It worked after 15 minutes.”

The debate over whether large companies should adopt Bitcoin is nothing new. Earlier this year, a similar proposal was made to Microsoft, but the company’s shareholders voted against the idea. Following the negative vote, the cryptocurrency market experienced volatility, with BTC falling from $98.327 to $94.386 in a matter of hours, before stabilizing at $97.111.

At the time of publication, the price of Bitcoin was quoted at US$100.040, up 5.7% in the last 24 hours.

The growing pressure on companies like Amazon, Microsoft and other tech giants to consider Bitcoin in their operations reflects the cryptocurrency’s growing institutional adoption. Experts believe that the implementation of crypto by large corporations could significantly alter the global financial landscape, strengthening Bitcoin’s position as a reserve asset and means of payment.

CZ’s proposal, while seemingly straightforward, may require significant adaptations to payment systems and corporate finance strategies. However, the growing acceptance of Bitcoin could lead to advances in this type of integration, benefiting consumers and businesses alike.