According to ChainCatcher, QCP released a daily outlook stating that Bitcoin briefly touched $98,000 during the Thanksgiving holiday, driven by Michael Saylor showcasing his Bitcoin investment strategy to Microsoft. Microsoft's shareholders are set to vote on December 10 to decide whether to include Bitcoin on their balance sheet.
Major shareholders of Microsoft, such as Vanguard, BlackRock, and Fidelity, have gained exposure to cryptocurrency by investing in MSTR, Coinbase, and other crypto companies. One might think they already have sufficient exposure. However, if the proposal passes, it will not only benefit Bitcoin but also positively impact their other investments.
While waiting for Microsoft's decision next week, U.S. employment and labor data will once again be in focus this week. The ISM manufacturing data and PMI data are scheduled for release on Monday and Wednesday, respectively. However, the highlight of the week is the non-farm payroll data on Friday. The market will closely watch this week's reports to better grasp inflation trends, especially ahead of the interest rate decision on December 17-18.
