According to news on December 26, Sean McNulty, trading director of liquidity provider Arbelos Markets, said: “MicroStrategy announced that it will issue more shares next year to buy more Bitcoins, which pushed up the price of Bitcoin. The market’s response to MicroStrategy’s Bitcoin Buying behavior is forward-looking, which is the biggest reason for the market’s rise.” MicroStrategy is seeking to increase the authorized number of shares of Class A common stock and preferred stock, according to a Dec. 23 SEC filing. Bitcoin is up 135% so far this year, outpacing global returns from traditional investments like stocks and gold. In addition, Bitcoin options with a notional value of $13.95 billion and Ethereum options with a nominal value of $3.77 billion are due to expire on Friday for delivery on Deribit, with open interest on the platform exceeding $43 billion, a record high. McNulty added: "Market makers may unhedge, which may lead to market volatility on Friday."