PANews, December 26 - According to Bloomberg, Sean McNulty, the trading head of Arbelos Markets, stated: 'The news that MicroStrategy will issue more shares next year to purchase more Bitcoin is driving up the price of Bitcoin, and the market is optimistic about MicroStrategy's Bitcoin purchases, which is the biggest and only reason for the market's rise. Following news about MicroStrategy has become an important part of my daily work.' According to a document submitted to the SEC by MicroStrategy on December 23, the company is seeking to increase the authorized number of Class A common stock and preferred stock.
In addition, some traders warn that the market may experience volatility in the coming days due to a large number of outstanding contracts for Bitcoin and Ethereum derivatives set to expire. On Friday, the derivatives exchange Deribit will have $43 billion in outstanding contracts expiring, including $13.95 billion in Bitcoin options and $3.77 billion in Ethereum options, setting a new historical high. McNulty stated: 'Market makers may unwind hedges and short Bitcoin, which could lead to increased market volatility on Friday.'
