QCP: Microsoft shareholder vote may be a catalyst for BTC to break through $100,000
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2024-12-02 18:02 3,350
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According to news on December 2, QCP released a daily view that Bitcoin briefly touched $98,000 during the Thanksgiving holiday. This increase was driven by Michael Saylor showing his Bitcoin investment strategy to Microsoft. Microsoft shareholders are scheduled to vote on December 10 whether to add Bitcoin to its balance sheet. Could this be the catalyst for Bitcoin to break $100,000 before the end of the year? Major Microsoft shareholders, such as Vanguard, BlackRock, and Fidelity, already have cryptocurrency exposure through investments in MSTR, Coinbase, and other crypto companies.
One might think that they already have enough exposure. However, if the proposal passes, it will not only be good for Bitcoin, but also their other investments. As we await Microsoft's decision next week, U.S. employment and labor data will once again be in focus this week. ISM manufacturing data and PMI data are scheduled to be released on Monday and Wednesday respectively. The focus of the week, however, is Friday's non-farm payrolls data. Markets will be paying close attention to this week's reports to get a better handle on inflation trends, especially ahead of the rate decision on December 17-18.