According to the supporting statement, Bitcoin’s price has surged 131% over the past year, outperforming corporate bonds, which rose by an average of 126%. Over the last five years, Bitcoin has skyrocketed by 1,246%, far surpassing the average 1,242% returns of corporate bonds during the same period.
The shareholders also added that MicroStrategy, a pioneer in holding Bitcoin on its balance sheet, has seen its stock outperform Amazon by 537% over the past year. It is not alone in embracing Bitcoin. Major companies such as Tesla (TSLA) and Block have incorporated the cryptocurrency into their balance sheets, signaling increasing corporate adoption.
Additionally, Amazon’s key institutional investors, BlackRock and Fidelity, now offer clients access to Bitcoin ETFs.
Meanwhile, speculation is growing that the U.S. government may establish a Bitcoin strategic reserve as early as 2025, marking a significant factor that could potentially sway the Amazon board towards adopting the Bitcoin purchase strategy.
Bitcoin price forecast: Multiple bullish indicators signals $120K breakout ahead
Bitcoin price has opened trading above the $100,000 mark for the first time in history on December 9, with key technical indicators signalling potential breakout to $120,000.
The Donchian Channels (DC) indicate that Bitcoin is maintaining its position near the upper channel boundary of $101,215. This reflects sustained buying pressure, a sign of bullish market sentiment. If Bitcoin decisively breaks above $104,088, it could trigger further upward momentum.
