According to ChainCatcher, QCP released a daily outlook stating that Bitcoin briefly touched $98,000 during the Thanksgiving holiday, a surge driven by Michael Saylor showcasing his Bitcoin investment strategy to Microsoft. Microsoft shareholders are set to vote on December 10 on whether to include Bitcoin in their balance sheet.
Major shareholders of Microsoft, such as Vanguard, BlackRock, and Fidelity, have gained exposure to cryptocurrencies through investments in MSTR, Coinbase, and other crypto companies. One might argue that they already have sufficient exposure. However, if the proposal passes, it would 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 the spotlight this week. ISM manufacturing data and 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. The market will closely monitor this week's reports to better grasp inflation trends, especially ahead of the interest rate decision on December 17-18.
