TechFlow news, on December 2, QCP posted that Bitcoin briefly touched $98,000 over the Thanksgiving weekend, driven in part by Saylor's presentation of a Bitcoin investment strategy to Microsoft. Microsoft shareholders are scheduled to vote on December 10 on whether to include Bitcoin on the company’s balance sheet. This could become the catalyst for Bitcoin to break $100,000 before year-end.
The article notes that Microsoft’s major shareholders, such as Vanguard, BlackRock, and Fidelity, have already gained exposure to cryptocurrencies through investments in MSTR, Coinbase, and other crypto companies. Some might argue they already have sufficient crypto exposure. However, if the proposal passes, it would not only be positive news for Bitcoin but also enhance the value of their other related investments.
As we await Microsoft’s decision next week, U.S. employment and labor data will again take center stage this week. The ISM Manufacturing Index and PMI data are scheduled for release on Monday and Wednesday, respectively. However, the highlight of the week will be Friday’s Non-Farm Payroll (NFP) report. Markets will closely watch this week’s data to better assess inflationary trends, especially ahead of the potential rate cut decision on December 17–18.
