PANews reported on December 26 that according to Bloomberg, Sean McNulty, head of trading at Arbelos Markets, said: "MicroStrategy announced that it will issue more shares next year to buy more Bitcoin. This news is pushing up the price of Bitcoin. The market is optimistic about MicroStrategy's purchase of Bitcoin. This is the biggest and only reason for the market to rise. Paying attention to MicroStrategy's news has become an important part of my daily work." According to documents submitted by MicroStrategy to the US SEC on December 23, the company is seeking to increase the number of authorized shares of Class A common stock and preferred stock.
In addition, some traders warned that the market could be volatile in the next few days due to the expiration of a large amount of open interest in Bitcoin and Ethereum derivatives. On Friday, the derivatives exchange Deribit will have $43 billion in open interest expiring, including $13.95 billion in Bitcoin options and $3.77 billion in Ethereum options, a record high. McNulty said: "Market makers may unwind their hedges and short Bitcoin, which may lead to increased market volatility on Friday."