PANews reported on December 2 that Singaporean crypto investment firm QCP Capital stated today that during the Thanksgiving weekend, driven by the Bitcoin investment strategy presented by Michael Saylor to Microsoft, the Bitcoin price briefly reached $98,000. Microsoft shareholders are scheduled to vote on December 10 on a proposal to include Bitcoin on its balance sheet. This could become the catalyst needed for Bitcoin to break through $100,000 before the end of the year.
Major shareholders of Microsoft, such as Vanguard, BlackRock, and Fidelity, have already ventured into the cryptocurrency space by investing in MicroStrategy (MSTR), Coinbase, and other cryptocurrency companies. It can be said that they have sufficient exposure to this area. On the other hand, if the proposal is passed, it will not only have a positive effect on Bitcoin but also boost their other investments.
As we await Microsoft's ruling next week, U.S. employment and labor data will once again be in the spotlight this week. The U.S. Institute for Supply Management (ISM) manufacturing index and Purchasing Managers' Index (PMI) data are scheduled to be released on Monday and Wednesday, respectively. However, the focus this week is on Friday's non-farm payroll data (NFP). The market will closely monitor this week’s reports to gain a better understanding of inflation, especially ahead of the interest rate decision on December 17-18.
