G’day Bitcoiners,

What a week it has been!

📢 Amazon Shareholders Push for Bitcoin Treasury

Amazon shareholders are urging the tech giant to add Bitcoin to its balance sheet. This move is proposed as a strategy to combat inflation and enhance shareholder value. It reflects the growing trend of global corporations adopting Bitcoin as a strategic treasury asset.

🇦🇺 AMP’s Bold Move into Bitcoin

AMP has become the first major Australian superannuation fund to invest in Bitcoin. Allocating $27 million earlier this year as part of a diversification strategy, AMP has set a precedent for other Australian wealth management firms to follow.

🇺🇸 Texas House Introduces Bitcoin Reserve Bill

Texas takes a major step with a new bill to establish a state Bitcoin reserve 💰, accepting taxes and donations in Bitcoin to strengthen fiscal stability and lead Bitcoin innovation.

🌍 Russia Eyes National Bitcoin Reserve

A ground breaking proposal from Anton Tkachev, a member of the State Duma, suggests that Russia create a national Bitcoin reserve. The move is intended to counter economic sanctions and ensure financial stability in light of restricted access to international payment systems.

🏙️ Vancouver Explores Becoming Bitcoin-Friendly

Vancouver’s Mayor Ken Sim has secured the passing of a motion to explore making the city a Bitcoin-friendly hub. His personal Bitcoin journey and extensive background as an accountant and entrepreneur offer a visionary perspective on how Bitcoin could drive innovation and reshape Vancouver’s financial future.

🚀 Bitcoin Holds $100,000 USD & ETF Inflows Stay Strong 💼

Bitcoin consolidates around the $100,000 USD milestone 💎🌕. Meanwhile, Bitcoin ETFs continue to see robust inflows 📈

📢 Amazon Shareholders Push for Bitcoin Treasury

Amazon's shareholders are making waves 🌊 by urging the tech giant to add Bitcoin 🟠 to its balance sheet.

This proposal is about diversification, future-proofing the company against inflation 📈 and boosting shareholder value 💰.

Why it Matters:

• Inflation Hedge: Bitcoin’s limited supply makes it a strong candidate for preserving value over time 🛡️.

• Strategic Treasury Asset: As more corporations adopt Bitcoin, it’s becoming a mainstream tool for financial resilience 📊.

• Market Momentum: An Amazon Bitcoin play could encourage other global corporations to follow suit 🌍.

• Massive Impact Potential: Amazon’s enormous size and vast cash reserves 💼—reportedly over $60 billion—mean its adoption of Bitcoin would carry unparalleled weight in driving mainstream acceptance 🌍.

🇦🇺💰 AMP Makes History as the First Major Australian Super Fund to Invest in Bitcoin 🟠

AMP, one of Australia's largest wealth management firms, has set a new precedent by investing $27 million in Bitcoin (BTC).

The ground breaking move, part of its broader diversification strategy, has already paid off, with Bitcoin’s surge to over $100,000 delivering a 66.66% profit 📈.

Why It Matters:

• While the allocation is a small 0.05% of AMP’s total assets under management, the investment is a bold step for Australia’s superannuation sector, traditionally cautious about Bitcoin’s volatility.

• AMP’s leadership highlights Bitcoin’s growing potential as an asset class, despite remaining scepticism in some parts of the traditional finance world.

Leadership Insights:

• Steve Flegg, Senior Portfolio Manager, called the move “taking the plunge,” citing Bitcoin’s exceptional performance this year.

• Anna Shelley, Chief Investment Officer, noted the investment aligns with AMP’s strategy to embrace innovation while managing risk.

This historic decision positions AMP as a trailblazer in integrating Bitcoin into institutional portfolios, setting the stage for broader adoption in the superannuation sector 🌍.

🇺🇸⚡ Texas Pushes for Strategic Bitcoin Reserve 🟠

Big things are brewing in Texas—and they might just be Bigger Than Texas! Republican State Rep. Giovanni Capriglione has introduced legislation to establish a state Bitcoin reserve 💰, a move that could position Texas as a leader in Bitcoin innovation and fiscal stability 🌟.

What’s in the Bill?

• 📥 Bitcoin Taxes & Donations: The state could accept taxes, fees, and donations in Bitcoin, held for at least five years.

• 🔒 Inflation Hedge: Capriglione highlights Bitcoin’s potential to protect against inflation, calling it a “win-win” for Texas’ economy.

• 🌐 Bitcoin Advocacy: Crafted with support from the Satoshi Action Fund, the bill aims to solidify Texas as a Bitcoin innovation hub.

Why It Matters:
Texas is the second-largest economy in the U.S. and home to the highest concentration of Bitcoin miners 🛠️. But the impact of this bill could be Bigger Than Texas 🌍—it could set a national precedent for integrating Bitcoin into public finance.

National Implications:
This proposal could serve as a blueprint for a potential U.S. strategic Bitcoin reserve, one of President-elect Donald Trump’s crypto-friendly campaign promises 🇺🇸. Bitcoin’s price has already rallied 45% 🚀 as investors bet on growing adoption at the state and national levels.

🌍🇷🇺 Russian Duma Considers Bitcoin Reserve to Counter Geopolitical Challenges 🟠

Russia is eyeing a historic move with a proposal to create a national Bitcoin reserve 💰. Anton Tkachev, a State Duma member, suggests Bitcoin could be a game-changer for tackling economic sanctions and ensuring financial stability amid limited access to global payment systems 🌐.

The Proposal:
Tkachev envisions a Bitcoin reserve akin to foreign currency reserves, offering strategic advantages:

• 🚫 Sanctions: Mitigating risks after being sanctioned and removed from the SWIFT network.

• 📉 Inflation: Protecting against fiat currency devaluation.

• 🌪️ Currency Volatility: Providing stability in uncertain times.

Bitcoin’s Strategic Edge:

With Bitcoin recently hitting $100,000 and peaking above $103,000 📈, its decentralized and resilient nature makes it an attractive hedge against geopolitical and financial pressures. Tkachev highlights Bitcoin’s ability to counter external constraints and facilitate trade, even under severe sanctions.

Game Theory in Action?

This proposal could trigger strategic moves from global powers. Speculation is rising that the U.S., under a Trump administration, will likely establish a U.S Strategic Bitcoin Reserve. Such a move could strengthen U.S. financial dominance and pre-empt geopolitical rivals, intensifying the global race for Bitcoin adoption.

The Central Bank of Russia has already expressed interest in integrating digital assets into international trade, setting the stage for a transformative shift 🌍.

🏙️🇨🇦 Vancouver Mayor Ken Sim Motion to Explore Bitcoin Reserve Passes🟠

Vancouver could soon make history as Mayor Ken Sim’s motion to explore adopting Bitcoin as a city reserve asset 💰 passed. This bold initiative positions Vancouver as a potential hub for Bitcoin innovation, reshaping the city’s financial future 🌟.

The Vision:
Mayor Sim, drawing on his background as an accountant and entrepreneur, sees Bitcoin as a tool for:

• 🔒 Financial Resilience: Protecting against inflation and economic uncertainties.

• 🌐 Global Leadership: Positioning Vancouver at the forefront of digital finance.

• 💡 Innovation: Encouraging tech and crypto-friendly business environments.

Why It Matters:

• Bitcoin’s decentralized and censorship-resistant nature makes it a powerful tool in protecting financial autonomy, a critical issue highlighted during Canada’s truckers' strike 🚛.

• The move aligns with a growing trend of municipalities exploring Bitcoin for its inflation-resistant properties 🛡️.

• Mayor Sim’s initiative could set an example for other cities worldwide, bolstering global Bitcoin adoption 🌍.

What’s Next?
The motion sets the stage for further exploration and potential implementation. If successful, Vancouver could cement itself as a leader in the global Bitcoin movement 🌟.

Post of The Week

Podcast of The Week

🏙️💡 Mayor Ken Sim Champions a Bitcoin-Friendly Vancouver 🟠

In an exclusive chat with Natalie Brunell 🎙️, Vancouver Mayor Ken Sim shares his bold vision for making the city a Bitcoin-friendly hub 🌟.

What You’ll Discover:

• 📈 Personal Bitcoin Journey: How Mayor Sim became a believer in Bitcoin’s transformative power.

• 💼 Expert Insights: His background as an accountant, auditor, and entrepreneur shaping his understanding of Bitcoin as a treasury asset.

• 🔮 Visionary Leadership: How Bitcoin could drive financial innovation, protect the city from inflation and secure Vancouver’s future as a global leader in digital finance.

If you have questions about how Bitcoin could help you or your business, please don’t hesitate to reach out for a free 30-minute consultation 🕒. We're here to help you navigate the future of Bitcoin 💡

Thanks for reading! We hope you’ve enjoyed this week’s edition and look forward to seeing you next week! 👋

For more stories and updates, visit Bitcoin on Balance.

Daniel 

for Bitcoin on Balance

32 York Street, Sydney NSW 2000, Australia

https://www.bitcoinonbalance.com/