Today is November 21, 2024. Recently, every article about Bitcoin has reported a new high, with Bitcoin reaching a peak of $98,384 per coin, just a step away from six-digit figures in the hundreds of thousands. Who is still buying Bitcoin? Many fans have privately messaged me asking if Bitcoin can still be bought, and the number of people looking for a dip to buy has also increased. My view is that if you're asking me now whether you can buy, where were you earlier? In fact, Bitcoin was still hovering around $60,000 in October, and it's only been a month. Those who didn't buy in October are now eager to buy in November, simply out of fear after seeing Bitcoin rise to nearly $100,000 in just a month. What are you afraid of? Afraid of missing out on the wealth train that is Bitcoin, commonly referred to as FOMO (Fear of Missing Out). To get back on track, let’s talk about some macro information: MicroStrategy CEO Michael Saylor has been invited to speak for three minutes at Microsoft's shareholder meeting to persuade shareholders to allow Microsoft to take out 1% of its massive cash reserves, which is $5 billion, to invest in Bitcoin. This could enhance shareholder value while combating inflation risks. Personally, I believe that on December 11, Microsoft's board will approve the $5 billion investment in BTC for the following reasons: Microsoft's second-largest shareholder is BlackRock, which owns a large amount of Microsoft stock and also has a Bitcoin spot ETF, IBIT. They could completely encourage Microsoft to take out $5 billion to buy their own IBIT, allowing them to earn custody fees while also enhancing shareholder value as Microsoft's second-largest shareholder. Meanwhile, Microsoft can diversify its assets to combat inflation and stabilize its assets, which can be seen as a win-win situation. The founder of MicroStrategy also hinted on X platform that they will continue to increase their Bitcoin holdings. This will stimulate many cash-rich companies globally to rush to buy Bitcoin. For example, Apple has a massive amount of cash with no place to spend it; Bitcoin is a great destination. Additionally, BlackRock's IBIT options trading was approved yesterday, meaning that any institution wanting to buy call or put options must prioritize purchasing BlackRock’s IBIT to exercise the IBIT options rights. Consequently, there was a huge volume of buying for IBIT yesterday, which is definitely not something retail investors can achieve. The current situation is that the U.S. president wants to treat Bitcoin as a strategic asset reserve, major companies want to hold Bitcoin as a corporate asset reserve, and major institutions want to use Bitcoin ETFs as a tool for exercising options. Everyone is eager to own Bitcoin, while only retail investors are exclaiming: Oh my, $100,000 Bitcoin, it's too expensive!
