NYDIG: Bitcoin ended the week above $100K, up 0.9%. Although Bitcoin was largely unchanged, the week wasn’t without its volatility. On Dec. 9, the broader digital asset market experienced a price correction resulting in $1.55B in long perp liquidations. Liquidations on Bitcoin were only a small portion of that total, $143M, with most of the liquidations hitting the altcoin market, hinting at where most of the leverage was in the market.

According to blockchain analytics platform SpotOnChain, on Dec. 9, the Royal Government of Bhutan transferred 402 Bitcoin (worth ~$40 million) to QCP Capital. Bhutan’s government has been actively selling its Bitcoin reserves, in a series of transactions, since Oct.

Russian state-owned domestic news agency RIA Novosti reported that State Duma deputy Anton Tkachev proposed creating a Russian strategic Bitcoin reserve.

Vancouver’s City Council approved exploring Bitcoin integration into municipal finance, including accepting taxes and holding reserves in BTC, and a feasibility report is due by Q1 next year.

A proposed bill, H.B. No. 1598, was introduced by Texas State Representative Giovanni Capriglione. It seeks to build up a supply of Bitcoin for the state, with the funds held for at least five years without being sold, plus it will allow Texas citizens to make donations to the fund.

Alabama State Auditor Andrew Sorrell said: “The debate over whether crypto will succeed has ended” and called for the state to add Bitcoin as a strategic reserve to diversify a portion of its holdings. Sorrell added that doing so would position Alabama as a crypto-friendly state, which would attract more business and investment.

BlackRock, the world’s largest investment firm with $11.5 trillion in AUM and issuer of the largest spot Bitcoin ETF, recommended allocating up to 2% of multi-asset portfolios to Bitcoin in an institutional investor report on Dec. 12.

Billionaire investor Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, endorsed Bitcoin and gold as “hard money” over debt assets amid rising global indebtedness. Dalio said in a speech during the Abu Dhabi Finance Week in the UAE: “I want to steer away from debt assets like bonds and debt, and have some hard money like gold and Bitcoin.”

MicroStrategy acquired an additional $2.1 billion worth of Bitcoin, purchasing 21,550 BTC at an average price of $98,783. This brings the company’s total Bitcoin holdings to 423,650 BTC valued at nearly $42 billion.

Microsoft shareholders voted against a proposal that would have directed the board of directors to add Bitcoin to diversify the company’s assets. The company, according to the board, prioritizes stable and predictable investments to mitigate as much risk as possible.

Chinese company Nano Labs increased its Bitcoin holdings to 360 BTC worth $36 million.

Conservative think tank National Center for Public Policy Research (NCPPR) called on Amazon to follow MicroStrategy in adding Bitcoin to its corporate treasury as an inflation hedge and way to boost shareholder value. Per the proposal: At minimum, Amazon should evaluate the benefits of holding some, even just 5%, of its assets in Bitcoin.”

El Salvador is preparing to amend its Bitcoin law to make Bitcoin acceptance optional for merchants as part of an agreement to secure $3.3 billion in loans from international financial institutions.

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