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Bitcoin Dip Fuels Institutional Appetite: Can Today’s Huge Buys Push the Price to $100K in December?

03.12.2024
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Several major companies recently invested heavily in Bitcoin despite a price dip, raising questions about the cryptocurrency’s potential to reach $100k by December. These big investments across various sectors signal continued institutional interest in Bitcoin, even as market volatility persists.

From software intelligence firms to educational platforms, the influx of capital into the Bitcoin market suggests a bullish sentiment despite the recent price dip.

Bitcoin Price Fluctuations Attract Institutional Investors

On December 2, MicroStrategy, a business intelligence firm known for its Bitcoin investments, disclosed another substantial purchase. According to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), the company acquired 15,400 BTC for roughly $1.5 billion in cash, paying an average price of $95,976 per Bitcoin, inclusive of fees and expenses.

This acquisition adds to MicroStrategy’s already considerable Bitcoin holdings, underscoring the company’s continued confidence in the cryptocurrency. For the quarter, MicroStrategy’s Bitcoin return reached 38.7%, while its year-to-date return sits 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

Simultaneously, MARA Holdings, a company operating in the digital asset and blockchain computing industry, revealed its plan to secure $805 million by issuing convertible senior notes due in 2031.

This capital raise seeks to bolster the company’s Bitcoin reserves and address existing debt. MARA intends to allocate up to $199 million to buy back a portion of its convertible notes maturing in 2026, utilizing the remaining funds to increase its Bitcoin holdings and support general corporate activities.

$100k Bitcoin Price: A December Dream?

Further fueling the Bitcoin market, Genius Group Limited, an AI-driven education company embracing a “Bitcoin-first” approach, announced on Monday that it had added $1.8 million to its Bitcoin treasury.

The latest purchase raises 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 commitment to hold at least 90% of its current and future reserves in Bitcoin, aiming to accumulate $120 million worth of the cryptocurrency.

Adding to the wave of Bitcoin acquisitions, Japanese investment firm Metaplanet unveiled a shareholder reward program on Monday, offering Bitcoin prizes through a lottery system. Shareholders owning a minimum of 100 shares by December 31 are eligible for the program, which boasts 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 allocated to 2,350 shareholders in varying amounts. In addition, 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 Predictions: Institutional Influence on the Horizon

Bitcoin’s price has experienced substantial fluctuations recently, with a considerable increase of approximately 40% following Trump’s U.S. presidential victory in November.

The question now is whether the investments by companies like MicroStrategy, Metaplanet, MARA Holdings, and Genius Group, amid a Bitcoin price dip, can provide the necessary momentum to propel the Bitcoin price towards this ambitious target in December.

The current market dynamics, driven by massive investments from established and emerging players, suggest a potential upward trajectory for the Bitcoin price. With the $100k target in sight, the influence of institutional buying on the future of Bitcoin remains a topic of keen observation.

The combined efforts of these major players create a new wave of investment, potentially signaling a bullish trend for Bitcoin despite the recent price fluctuation.

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

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Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

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