Institutional Interest Grows Amid Bitcoin Price Drop: Will Significant Purchases Today Drive the Value to $100K by December?

Numerous prominent companies have recently made significant investments in Bitcoin, even amid a price decline, prompting discussions regarding the cryptocurrency’s ability to reach $100k by December. These substantial investments across diverse sectors indicate ongoing institutional interest in Bitcoin, despite the prevailing market volatility.

From software analytics firms to educational organizations, the surge of investment in the Bitcoin market reflects a positive outlook despite the recent price drop.

Bitcoin Price Variations Attract Institutional Stakeholders

On December 2, MicroStrategy, a business intelligence company recognized for its Bitcoin investments, announced another major acquisition. As per a Form 8-K submitted to the U.S. Securities and Exchange Commission (SEC), the firm purchased 15,400 BTC for approximately $1.5 billion in cash, averaging $95,976 per Bitcoin, including fees and expenses.

This purchase enhances MicroStrategy’s already substantial Bitcoin portfolio, highlighting the firm’s sustained confidence in the cryptocurrency. For the quarter, MicroStrategy reported a Bitcoin return of 38.7%, while its year-to-date return stands at 63.3%.

MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per #bitcoin and has achieved BTC Yield of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we hodl 402,100 $BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin. $MSTR https://t.co/K3TK4msGp0

— Michael Saylor (@saylor) December 2, 2024

At the same time, MARA Holdings, a firm involved in the digital asset and blockchain computing sector, announced its intention to raise $805 million by issuing convertible senior notes due in 2031.

This fundraising effort aims to enhance the company’s Bitcoin reserves and manage existing debt. MARA plans to allocate up to $199 million to repurchase a portion of its convertible notes maturing in 2026, using the remaining capital to expand its Bitcoin holdings and support general corporate operations.

$100k Bitcoin Price: A December Aspiration?

Further energizing the Bitcoin market, Genius Group Limited, an AI-focused education company adopting a “Bitcoin-first” strategy, revealed on Monday that it had increased its Bitcoin treasury by $1.8 million.

This latest acquisition brings the company’s total Bitcoin reserves to 172 BTC, valued at $15.8 million, with an average net price of $92,006 per Bitcoin. This investment follows Genius Group’s recent pledge to maintain at least 90% of its current and future reserves in Bitcoin, with a goal of accumulating $120 million worth of the cryptocurrency.

In addition to the wave of Bitcoin purchases, Japanese investment firm Metaplanet introduced a shareholder reward initiative on Monday, offering Bitcoin prizes through a lottery system. Shareholders holding a minimum of 100 shares by December 31 are eligible for the program, which features a total prize pool of 30 million yen (approximately $199,500) in Bitcoin.

Metaplanet has seen its stock soar by 1,000% in 2024, becoming Tokyo’s top stock through its partnership with Sora Ventures and adopting Bitcoin as part of its treasury strategy, showcasing the potential advantages of integrating Bitcoin into corporate finance. #Metaplanet…

— Vanquish Adept (@VanquishAdept) December 2, 2024

The rewards, distributed via lottery, will be given to 2,350 shareholders in varying amounts. Additionally, new accounts opened with SBI VC Trade between November 18th and March 31st, 2025, can participate by registering through a dedicated website before the deadline.

Bitcoin Price Forecasts: Institutional Impact on the Horizon

Bitcoin’s price has undergone significant fluctuations recently, with a notable increase of around 40% following Trump’s U.S. presidential victory in November.

The current inquiry is whether the investments from companies such as MicroStrategy, Metaplanet, MARA Holdings, and Genius Group, during a Bitcoin price dip, can generate the necessary momentum to drive the Bitcoin price toward this ambitious goal in December.

The prevailing market dynamics, propelled by substantial investments from both established and emerging entities, suggest a possible upward trend for the Bitcoin price. With the $100k target in view, the impact of institutional purchasing on Bitcoin’s future remains a subject of close scrutiny.

The collective efforts of these major players create a new wave of investment, potentially indicating a bullish trend for Bitcoin despite the recent price fluctuations.

The post Bitcoin Dip Fuels Institutional Appetite: Can Today’s Huge Buys Push the Price to $100K in December? appeared first on Cryptonews.