$BTC Briefly tested $98,000 during the Thanksgiving holiday in the United States. The surge was triggered by Michael Saylor’s presentation of a BTC investment strategy for technology giant Microsoft. All eyes are now on the vote by Microsoft shareholders on December 10 regarding the proposal to add BTC to the company’s balance sheet, raising questions about whether this step will catalyze BTC surpassing the $100,000 threshold by year’s end.
What Will Major Microsoft Shareholders Decide?
Major Microsoft shareholders, including Vanguard, BlackRock, and Fidelity, have already made significant investments in the crypto market. These investment giants have direct stakes in companies like MicroStrategy and Coinbase. This situation strengthens the argument that they are already indirectly exposed to BTC. However, if the proposal is approved, it could not only support BTC’s price but also positively influence shareholders’ other crypto investments.
Should shareholders approve the addition of BTC to company assets, it could mark a significant turning point for the crypto market. Additionally, the timing of this decision is crucial, as it is expected to create substantial market momentum for the largest cryptocurrency to exceed $100,000.
Economic Data and Market Expectations
This week, market focus will extend beyond Microsoft’s decision. Economic data from the United States will also be critical. The ISM manufacturing index released on Monday and the PMI data on Wednesday will provide essential insights into inflation trends. The week’s highlight will be Friday’s announcement of the non-farm payroll (NFP) data.
All this data will shed light on the Federal Reserve’s interest rate decision on December 17-18. As the market debates the possibility of an interest rate cut, this week’s economic indicators will play a decisive role in future inflation expectations. Positive data could support Bitcoin and other risky assets.
Market participants are closely monitoring both the decisions of Microsoft shareholders and economic data to assess whether Bitcoin can reach its year-end target. All these developments could create a strong foundation for the largest cryptocurrency to exceed $100,000.
