Intel CEO Pat Gelsinger announced his retirement, semiconductor stocks performed strongly, and the S&P 500 and Nasdaq indices hit new highs. MicroStrategy announced another Bitcoin purchase, and founder Michael Saylor recently prepared a three-minute presentation for Microsoft's board of directors and CEO Satya Nadella, advocating for the company to consider investing in Bitcoin. Bitcoin and Ethereum saw slight declines yesterday, but the best-performing cryptocurrency among the top 10 by market cap was still Ripple's XRP, which continued to rise 21% yesterday, driven by the potential issuance of its stablecoin RLUSD.
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ToggleWhere is the market focus as we officially enter December?
The market has officially entered the last month of the year. In addition to waiting for important economic data, investors are also actively evaluating where to focus their investment attention in the Trump 2.0 era.
Trump warned BRICS nations that if they dare to "de-dollarize", he will impose 100% tariffs. The US dollar has risen, and gold prices have fallen. Trump's previous threats to impose massive new tariffs on Canada, Mexico, and China have kept the market on alert.
(Can Trump's warning to BRICS nations on de-dollarization be that easy?)
This Friday, the release of the US November non-farm payroll report will provide 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 cut pattern, and according to the CME FedWatch index, 76% of traders expect the Fed to cut rates by another 25 basis points in December, lowering the benchmark rate to 4.25%-4.5%.
MicroStrategy buys more Bitcoin
MicroStrategy, which calls itself a Bitcoin development company, announced yesterday that it has spent $150 million to buy 15,400 BTC, at an average cost of $95,976 per BTC, realizing a 38.7% return on BTC since the beginning of the quarter and a 63.3% return since the beginning of the year. As of December 2, 2024, MicroStrategy has acquired $23.4 billion worth of 402,100 BTC at an average cost of $58,263 per BTC.
Founder Michael Saylor recently prepared a three-minute presentation for Microsoft's board of directors and CEO Satya Nadella, advocating for the company to consider investing in BTC. He calculated that if Microsoft fully invested in BTC, its market value could increase by nearly $5 trillion, and the stock price could reach $584.
XRP rises 20%, AVAX and ADA also gain
Bitcoin and Ethereum saw slight declines yesterday, but the best-performing cryptocurrency among the top 10 by market cap was still Ripple's XRP, which continued to rise 21% yesterday, driven not only by the expected resolution of SEC regulatory concerns, but also the anticipated issuance of Ripple's stablecoin RLUSD. XRP's market cap even surpassed USDT, reaching $155.2 billion.
(The RLUSD stablecoin helps XRP soar, will an XRP ETF have a chance to list next year?)
The veteran public chain tokens ADA and AVAX also continued to rise based on the "Trump effect", with 4% and 13% performance respectively in the past 24 hours.
