Sean McNulty, trading director at liquidity provider Arbelos Markets, said: "MicroStrategy's announcement that it will issue more shares to buy more Bitcoin next year has pushed up the price of Bitcoin. The market is forward-looking about MicroStrategy's Bitcoin purchases, which is the biggest reason for the market to rise." According to documents submitted to the U.S. SEC on December 23, MicroStrategy is seeking to increase the number of authorized shares of Class A common stock and preferred stock. Bitcoin has risen 135% so far this year, exceeding the returns of traditional investments such as global stocks and gold. In addition, Deribit's notional value of $13.95 billion in Bitcoin options and $3.77 billion in Ethereum options will expire on Friday, and the platform's open interest positions exceeded $43 billion, a record high. McNulty added: "Market makers may unwind hedges, which may lead to market volatility on Friday." (Bloomberg)