When addressing certain facts; that the OP did not specify what OS they are running (could be windoze, VMS or mac); that, even if it is unix or linux, files in hidden directories or called .anything.txt should probably be left alone (I believe files beginning with '~' for windows, although I don't do much windows) and also that for example find -print0 works on linux but not unix; a short script instead of a one liner would become necessary, perhaps this:

# a unix/linux version:
Traverse('./');
sub Traverse{
    my $dir = shift;
    opendir my $dh, $dir or die "$!, for $dir";
    for my $file ( grep !/^\./, readdir $dir ) { # but adjust for OS
        my $path = "$dir/$file";
        if ( -d $path ) {
            Traverse( $path );
        }
        else {
            ( $file =~ /\.txt$/ ) and Process( $path );
            # or for VMS /\.TXT\;\d+$/
        }
    }
    closedir $dh;
}
sub Process{
    my $file = shift;
    open my $fh "<$file" or die "$!, for $file";
    my @updated = ();
    while( <$fh> ) {
        s/find/replace/g;
        push @updated;
    }
    close $fh;
    open $fh, ">$file" or die "$!, for $file";
    print $fh @updated;
    close $fh;
}
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