Bitcoin’s meteoric surge to $100K is significant in many ways. For instance, BTC has now become the 7th largest asset in the world, giving stiff competition to contenders like Gold and the US dollar. While the token is currently being dubbed a digital gold, the market is now pivoting hard towards BTC, with giants like Amazon and Microsoft contemplating adding Bitcoin as an important part of their company proceedings. The real question is, who will end up adding Bitcoin to their firm first? Amazon or Microsoft?
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Amazon or Microsoft: Time for Bitcoin Contemplation
Image: Cringley.com
The two market entities, Amazon and Microsoft, are currently mulling over adding Bitcoin as part of their strategic expansion and growth. Amazon is currently adding Bitcoin to the firm’s treasury as part of a landmark new development. The firm’s board of directors has reportedly called an emergency meeting to discuss the aforementioned development, pondering hard on whether adding BTC to the firm’s treasury will benefit the entire company in any way or not.
“Amazon should – and perhaps has a fiduciary duty to consider adding assets to its treasury. That appreciate more than bonds, even if those assets are more volatile short-term… Over the past five years, the price of Bitcoin increased by 1,246%,⁶. Outperforming corporate bonds by 1,242% on average.⁷ MicroStrategy – which holds Bitcoin on its balance sheet – has had its stock outperform Amazon stock by 537% in the previous year.⁸. And they’re not alone…. Shareholders request that the Board conduct an assessment to determine if adding Bitcoin to the Company’s treasury is in the best long-term interests of shareholders.”
At the same time, Microsoft, another market giant, is currently weighing the pros and cons of adding Bitcoin to its firm’s proceedings. Microsoft’s shareholders have lately been conducting meetings to weigh whether adding Bitcoin would benefit the firm in any way. Concerning this development, the firm contracted Microstrategy CEO and Bitcoin proponent Michael Saylor to conduct a brief meeting, discussing the benefits of adding Bitcoin to MSFT’s portfolio.
In addition to this, Saylor, in his latest interview, shared how Microsoft’s decision to add Bitcoin can add trillions to BTC’s market cap.
The firm will be revealing its final decision on December 10, unveiling whether the company will include Bitcoin as part of its expansion strategy.
If all goes well, Microsoft could be the first firm to announce its Bitcoin addition (December 10), followed by Amazon, if its shareholder ecosystem allows BTC to become an integral part of the firm’s anatomical system.
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AMZN & MSFT TipRanks Forecast
As both firms contemplate adding Bitcoin in the long haul, Amazon and Microsoft are vying for the top stock spot consecutively.
Per TipRanks, AMZN is currently eying the $285, which it can easily achieve over the next 12 months.
“The average price target for Amazon is $239.00. This is based on 46 Wall Street analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is $285.00; the lowest forecast is $197.00. The average price target represents a 5.27% increase from the current price of $227.03.”
Image: TipRanks
For MSFT, TipRanks Forecast includes the firm targeting a new stock high of $550 in the long run.
Image: TipRanks
“The average price target for Microsoft is $497.36. This is based on 29 Wall Street analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is $550.00; the lowest forecast is $425.00. The average price target represents a 12.13% increase from the current price of $443.57.”
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