Next week's focus | On the day before Christmas, the US stock market will be closed 3 hours in advance

JUST IN: 🇺🇸 President-elect Trump nominates pro-Bitcoin Stephen Miran to lead his Council of Economic Advisers.

ETH has declined, with a trading volume of $33 billion in the past 24 hours and a circulating market value of $403.7 billion, representing a 0.41% decrease in market capitalization. Data for reference only

OKX-ETH/USDT is currently trading at $3307.50, with a 24-hour decline of 2.60%. Please be aware of market fluctuations.

Binance co-founder CZ posted on the X platform that he recently saw some people receiving cryptocurrencies by receiving private keys or hardware wallets. This is a bad idea because the donor still has access to these cryptocurrencies and should transfer them to their own address, or better yet, simply have the donor send them to their own address. Allowing two people to access the same key (or mnemonic) is a bad idea. When these encryption files are moved (or stolen by hackers), it is almost impossible to prove who moved them (or was hacked).

According to Barron's Weekly, the Bitcoin premium of MicroStrategy's stock (measured by the ratio of enterprise value - market value plus net debt - to the value of the company's Bitcoin holdings) continues to shrink. Currently, the company's valuation is about twice its Bitcoin holdings, with a holding of approximately 439000 bitcoins (Barron's Weekly estimates). This ratio has dropped from a peak of 3.5 times in November to twice its current level, indicating that MicroStrategy's stock price has failed to keep up with the recent rebound in Bitcoin prices after breaking through $100000. Given the still high Bitcoin premium in the stock market, MicroStrategy's stock price may face more downward space. Currently, MicroStrategy's market value is about $79 billion, of which Bitcoin holdings are worth about $43 billion. The company also carries $7 billion in debt, and a high premium may make MicroStrategy's stock price prone to a pullback when the premium further shrinks.