Intel CEO Pat Gelsinger announces retirement, semiconductor stocks perform strongly, and the S&P 500 index and Nasdaq hit new historical highs again. MicroStrategy announces another Bitcoin purchase, and founder Michael Saylor also prepared a three-minute speech for Microsoft's board and CEO Satya Nadella, advocating for the company to consider investing in Bitcoin. Bitcoin and Ethereum saw a slight decline yesterday, but the best performer among the top ten cryptocurrencies by market cap remains Ripple's XRP, encouraged by the potential issuance of its stablecoin RLUSD, which rose by 21% yesterday.
Entering December officially, where is the market focused?
The market officially enters the last month of the year. Besides waiting for important economic data, investors are also actively assessing which key areas to focus their investments on in the Trump 2.0 era.
(Cathie Wood: Trump's relaxed regulations will drive the stock market up; we need to seize opportunities in cryptocurrency and AI)
Trump warns BRICS nations that if they dare to 'de-dollarize', a 100% tariff will be imposed. The dollar rises, and gold prices fall. Trump's previous threats of imposing hefty new tariffs on Canada, Mexico, and China have kept the market on alert.
(Trump warns BRICS nations not to attempt to shake off the dollar; is de-dollarization that easy?)
This Friday, the U.S. will announce the November non-farm payroll report, providing important guidance for the last interest rate policy meeting of the year (12/18). The market generally believes that the Federal Reserve will maintain a gradual rate-cutting pattern, with 76% of traders expecting a rate cut of 25 basis points in December, bringing the benchmark interest rate down to 4.25% to 4.5%.
MicroStrategy buys more Bitcoin
MicroStrategy, which prides itself on being a Bitcoin development company, announced yesterday that it spent another $1.5 billion to buy 15,400 BTC at an average cost of $95,976 per BTC, achieving a year-to-date BTC return of 38.7% and a return of 63.3% since the beginning of the year. As of December 2, 2024, MicroStrategy acquired Bitcoin at an approximate price of $23.4 billion, with each Bitcoin valued at about $58,263.
Founder Michael Saylor also prepared a three-minute speech for Microsoft's board and CEO Satya Nadella, advocating for the company to consider investing in Bitcoin. He estimated that if Microsoft fully invested in Bitcoin, its market cap could increase by nearly $5 trillion, with shares potentially reaching $584.
(MicroStrategy's Michael Saylor urges Microsoft to implement a Bitcoin reserve strategy, with a market cap expected to increase by $5 trillion)
XRP rises by another 20%, AVAX and ADA also increase
Bitcoin and Ethereum saw slight declines yesterday, but the best performer among the top ten cryptocurrencies by market cap remains Ripple's XRP. Besides the expected easing of SEC regulatory concerns, the issuance of Ripple's stablecoin RLUSD is also drawing attention. XRP rose by 21% yesterday, with its market cap even surpassing USDT, reaching $155.2 billion.
(Stablecoin RLUSD helps XRP surge, is there a chance for an XRP ETF to be listed next year?)
The long-established public chain tokens ADA and AVAX are also rising based on the Trump effect, with performances of 4% and 13% in the past 24 hours.
Source: CoinGecko
This article reports that MicroStrategy announces another purchase of Bitcoin, with Ripple's XRP rising by 20%. First appeared in Chain News ABMedia.
