According to Deep Tide TechFlow, on December 2, QCP reported that Bitcoin briefly touched $98,000 over the Thanksgiving weekend, one of the driving factors being Saylor's Bitcoin investment strategy presented to Microsoft. Microsoft's shareholders are set to vote on December 10 on whether to include Bitcoin in the company's balance sheet. This could become the catalyst needed for Bitcoin to break through $100,000 before the end of the year.
The article points out that major shareholders of Microsoft, such as Vanguard, BlackRock, and Fidelity, have already ventured into the cryptocurrency space by investing in MSTR, Coinbase, and other crypto companies. One might think they already have enough cryptocurrency exposure. However, if the proposal passes, it would not only be positive news for Bitcoin but also have a favorable impact on their other investments.
While waiting for Microsoft's ruling next week, U.S. employment and labor data will once again be in the spotlight this week. The ISM Manufacturing Index and PMI data are scheduled to be released on Monday and Wednesday, respectively. However, the highlight of this week is the Non-Farm Payroll (NFP) data on Friday. The market will closely monitor this week's reports to better gauge inflation, especially ahead of the interest rate decision on December 17-18.
