On November 1, $BTC 1, after the release of the U.S. inflation CPI data, it completely met expectations, and the probability of a 25 basis point rate cut next week has exceeded 98%. As a result, BTC has regained the $100,000 mark.
Data shows that in the past few days, BTC's decline has caused many retail investors to hand over their chips, while institutions and large holders have not stopped their accumulation efforts for a moment. Even though we faced the largest annual liquidation, spot ETFs continue to see capital inflows, the Coinbase premium has quickly widened, and Tether has issued more USDT.
Bitwise not only predicts that BTC's price will reach $200,000 next year, but also holds a more optimistic outlook on the capital inflow of BTC spot ETFs in 2025. This year, BTC spot ETFs have already outperformed gold spot ETFs, and the inflow of next year's spot ETFs is likely to exceed this year's levels.
Recently, MicroStrategy increased its BTC holdings by $2.1 billion. It is said that MicroStrategy's stock MSTR will be included in the NASDAQ 100 index, with a probability shown as 90% on Polymarket. MicroStrategy has been continuously purchasing BTC through methods such as issuing bonds. If included in the NASDAQ 100 index, index funds will allocate MSTR stocks, potentially bringing in billions of dollars in passive buying demand, making it easier for them to raise more funds to purchase BTC.
Earlier today, Microsoft held a board meeting to discuss whether to include BTC in the company's asset reserves. Unfortunately, the board deemed that BTC's volatility did not align with the company's investment philosophy and rejected the proposal. What I find unfortunate is not for BTC, but for Microsoft. The wheels of history roll forward, and anything that tries to hinder its progress by relying solely on itself is like an ant trying to stop a car. The once-dominant film company Kodak in the 1990s could not, nor could Nokia, which occupied over 70% of the mobile phone market in the first decade of the millennium. Once a leader in the internet era and a ruler of desktop systems for home computers for decades, Microsoft has already fallen behind in the mobile internet era. I hope this does not lead to a gradual exit from the world's top tier in the near future. 😮💨
