Bitcoin Nears $100K After MicroStrategy’s Biggest Buy Yet

Key Takeaways

• Bitcoin continued to climb, surpassing $99,000 for the first time before retracing to the early $90,000s.
• MicroStrategy made its largest BTC purchase to date, adding $5.4B worth throughout mid-November. It now holds 386,700 BTC and plans to keep accumulating.
• SEC Chair Gary Gensler said he would step down on January 20. This was widely celebrated by the industry, given Gensler’s hostility toward crypto in recent years.
• The launch of Bitcoin ETF options in the U.S. was met with unprecedented interest and volume.
• Market sentiment is showing some signs of euphoria, reminiscent of previous bull runs, with crypto apps surging up the App Store rankings.