Last Week, FRNT CEO Stephane Ouellette discussed ongoing market dynamics in crypto on the ‘Bitfinex Talks’ podcast - in this AM’s note, we offer a breakdown of Ouellette’s key points. Ouellette explains that under the ‘previous environment’ regulators in the US took an antagonistic approach to crypto, causing participant hesitancy due to regulatory and reputational uncertainty. Under the new environment, core infrastructure and solutions stand to gain as market confidence improves, prompting traditional institutions to enter the space. Emerging markets, facing inflationary pressures, may increasingly acquire BTC as reserves, particularly influenced by the rallying asset and nation-state adoption.

- According to reporting from Axios, Donald Trump 'is going to be very focused on the price of [BTC].' Sources indicate he wants BTC to reach USD 150,000 early in his term. - [Link](https://www.axios.com/2024/12/10/trump-administration-tech-moguls-ai-crypto) - MicroStrategy (NASDAQ: MSTR) is expected to be included in the Nasdaq 100 on December 23, precipitating an estimated USD 2.1B in net buying from ETF investments. - [Link](https://www.nasdaq.com/articles/microstrategy-mstr-expected-be-added-nasdaq-100-bloomberg) - Microsoft (NASDAQ: MSFT) shareholders voted against a proposal to invest in BTC, citing concerns over volatility. - [Link](https://www.coindesk.com/markets/2024/12/08/frame-microsoft-shareholders-decide-against-adding-bitcoin-to-its-treasury-bitcoin-dumps)

- WSJ: [Why Bitcoin Is In Short Supply](https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-12-10-2024/card/why-bitcoin-is-in-short-supply-iUSYRkukFPKQLHE7PnsB) - Bloomberg: [Does Bitcoin at $100,000 Signal A Last Laugh For HODLers?](https://www.bloomberg.com/opinion/articles/2024-12-11/does-bitcoin-at-100-000-signal-a-last-laugh-for-hodlers)

- [The Cure](https://cryptohayes.substack.com/p/the-cure), Arthur Hayes, December 2, 2024 Arthur Hayes discusses memecoins.

- [Cryptocurrencies Are the Future, Eric Trump Says](https://www.youtube.com/watch?v=WrKNq4A-1io), Eric Trump, December 10, 2024 Eric Trump talks to Bloomberg at the 'Bitcoin MENA' conference in Abu Dhabi.