Intel CEO Pat Gelsinger announces retirement, semiconductor stocks perform strongly, S&P 500 index and Nasdaq hit new historical highs. MicroStrategy announces further Bitcoin purchases, founder Michael Saylor recently prepared a three-minute speech for Microsoft’s board and CEO Satya Nadella, advocating for the company to consider investing in Bitcoin. Bitcoin and Ethereum saw slight declines yesterday, while the best-performing cryptocurrency among the top ten by market cap remains Ripple's XRP, which gained 21% yesterday, motivated by the potential issuance of its stablecoin RLUSD.
As we officially enter December, where is the market focusing?
The market officially enters the last month of the year. In addition to waiting for important economic data, investors are also actively assessing which key areas to focus their investments on in the Trump 2.0 era.
(Cathie Wood: Trump's relaxed regulations will drive stock market growth, we need to seize opportunities in cryptocurrency and AI.)
Trump warns BRICS nations that if they dare to 'de-dollarize', a 100% tariff will be imposed. The dollar rises, and gold prices fall. Trump's previous threats of imposing hefty new tariffs on Canada, Mexico, and China have kept the market on alert.
(Trump warns BRICS nations not to attempt to break free from the dollar, is de-dollarization that easy?)
This Friday, the U.S. will release the November non-farm payroll report, providing important guidance for the last interest rate policy meeting of the year (12/18). The market generally believes that the Federal Reserve will maintain a gradual rate-cutting pattern, with 76% of traders believing the Fed will cut rates by another 25 basis points in December, lowering the benchmark interest rate to 4.25% - 4.5%.
MicroStrategy buys more Bitcoin.
MicroStrategy, which prides itself on being a Bitcoin development company, announced yesterday that it spent an additional $1.5 billion to acquire 15,400 BTC, with an average cost of $95,976 per BTC, achieving a year-to-date return of 38.7% and 63.3% on a quarterly basis. As of December 2, 2024, MicroStrategy has acquired 402,100 Bitcoin at an approximate price of $23.4 billion, with each Bitcoin costing about $58,263.
Founder Michael Saylor recently prepared a three-minute speech for Microsoft’s board and CEO Satya Nadella, advocating for the company to consider investing in Bitcoin. He calculated that if Microsoft fully invested in Bitcoin, its market cap could increase by nearly $5 trillion, with stocks potentially reaching $584.
(MicroStrategy's Michael Saylor urges Microsoft to implement a Bitcoin reserve strategy, with a market cap increase expected of $5 trillion.)
XRP rises another 20%, AVAX and ADA also increase.
Bitcoin and Ethereum saw slight declines yesterday, while the best-performing cryptocurrency among the top ten by market cap remains Ripple's XRP. In addition to the expected easing of SEC regulatory concerns, the issuance of Ripple's stablecoin RLUSD is also under close scrutiny. XRP rose 21% yesterday, with a market cap surpassing USDT, reaching $155.2 billion.
(Stablecoin RLUSD helps XRP surge, will XRP ETF be listed next year?)
Legacy public chain tokens ADA and AVAX are also continuing to rise based on the Trump effect, with performances of 4% and 13% over the past 24 hours.
Source: CoinGecko
This article MicroStrategy announces further Bitcoin purchases, XRP rises by 20%. First appeared in Chain News ABMedia.
