NCPPR Pushes for Bitcoin Adoption as Companies Eye the Cryptocurrency Amidst Pro-Crypto Optimism

Since its launch in 2009, Bitcoin, the leading cryptocurrency, has evolved significantly and steadily gained traction among mainstream businesses.

The National Center for Public Policy Research (NCPPR) is reportedly continuing its efforts to promote Bitcoin (BTC) proposals for major tech companies, aiming to integrate the leading cryptocurrency into their corporate strategies.

According to a recent report from The Block, the NCPPR, a conservative think tank, is currently engaged in discussions with a “major” company for a potential Bitcoin initiative. However, the identity of the company remains undisclosed.

In its latest push for Bitcoin adoption, the NCPPR is said to be expressing concerns about financial markets being used to suppress individual freedoms. The entity argues that Bitcoin can serve as a protection for corporations against inflation.

Earlier this year, the NCPPR submitted a proposal to e-commerce giant Amazon for consideration at the 2025 annual shareholder meeting, urging the company to allocate at least 5% of its assets into Bitcoin. The proposal will be put to a vote by Amazon shareholders at the upcoming meeting in April.

The move follows a previous attempt by a group of Amazon shareholders to get the company to add Bitcoin to its balance sheet at the 2023 annual shareholder meeting. Despite projections of substantial market growth, Microsoft shareholders ultimately voted against a proposal that would have seen the company integrate Bitcoin into its balance sheet.

The company’s board had recommended a “no” vote on the proposal, arguing that it was not in the best interests of Microsoft or its shareholders. After the rejection, Bitcoin’s price briefly dropped to $94,000 but later recovered to $96,400.

Currently, the largest publicly traded companies that are known to be holding Bitcoin on their balance sheets are mainly crypto-related firms, such as Coinbase and MicroStrategy. In these cases, Bitcoin has been touted as a way for companies to diversify their corporate reserves and embrace innovative financial strategies.

According to the MicroStrategy Tracker, the company’s Bitcoin holdings are valued at over $40 billion, which reportedly translates to an estimated profit of around $17 billion for MicroStrategy.

Top 4 Publicly Traded Companies Holding Bitcoin on Their Balance Sheets

According to data from Bitcoin Treasuries, here are the top 4 publicly traded companies that are known to be holding Bitcoin on their balance sheets, as of March 2023:

1. Coinbase Global (NASDAQ:COIN) - 4,744 BTC

2. MicroStrategy (NASDAQ:MSTR) - 132,500 BTC

3. Galaxy Digital (TSX:GLXY) - 16,400 BTC

4. Block (NYSE:SQ) - 88 BTC, 294 BTC Class A common stock, and 143 Class C common stock

It's worth noting that these holdings may have changed since the last reported update. Additionally, there could be other publicly traded companies that hold Bitcoin but have not disclosed their holdings.