On December 2nd, QCP released a daily opinion saying that Bitcoin briefly touched $98,000 during the Thanksgiving holiday. This increase was driven by Michael Saylor's presentation of its Bitcoin investment strategy to Microsoft. Microsoft's shareholders plan to vote on whether to add Bitcoin to its balance sheet on December 10th. Will this be a catalyst for Bitcoin to break through $100,000 before the end of the year? Microsoft's major shareholders, such as Vanguard, BlackRock, and Fidelity, already have exposure to cryptocurrencies by investing in MSTR,
Coinbase, and other crypto companies.
One might think that they already have enough exposure. However, if the proposal passes, it will not only be good for Bitcoin, but also for their other investments. While waiting for Microsoft's decision next week, US employment and labor data will once again be in the spotlight this week. ISM manufacturing data and PMI data are scheduled for release on Monday and Wednesday, respectively. However, the focus this week is on Friday's non-farm payrolls data. Markets will be watching this week's report closely to get a better grasp of inflation trends, especially ahead of the December 17-18 interest rate decision.