Several major companies have recently invested in Bitcoin (BTC) despite its low price, raising questions about whether it could reach $100,000 by December. The massive investments from institutions across a range of sectors indicate that institutional interest in Bitcoin continues to grow despite ongoing market volatility. From software companies to educational platforms, the increased investment in the Bitcoin market reflects the positive sentiment despite the recent price decline.
Bitcoin price volatility attracts institutional investors
On December 2, MicroStrategy, a well-known Bitcoin investor, revealed a massive purchase. According to an 8-K filing with the U.S. Securities and Exchange Commission (SEC), the company purchased 15,400 BTC worth $1.5 billion at an average price of $95,976 per coin, including fees and expenses, adding to its BTC holdings in a clear sign of the company’s confidence in the cryptocurrency. The company’s BTC return for the quarter was 38.7%, while its year-to-date return was 63.3%.
MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per#bitcoinand 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
In the same context, MARA Holdings, a company operating in the digital assets and blockchain computing sector, announced its intention to raise $805 million in capital through the issuance of convertible tokens, with a maturity date in 2031, in order to increase its Bitcoin reserves and pay down existing debt. The company also intends to allocate up to $199 million to purchase a portion of its convertible tokens due in 2026, and use the remaining funds to increase its Bitcoin holdings and support the company’s general activities.
Is Bitcoin hitting $100,000 a dream come true in December?
Genius Group Limited, an AI-powered education company with a “Bitcoin First” approach, announced an addition of $1.8 million to its Bitcoin holdings on Monday, boosting the overall sentiment in the BTC market, bringing its total Bitcoin holdings to 172 Bitcoins worth $15.8 million at an average net price of $92,006 per coin. The investment follows the company’s commitment to place at least 90% of its current and future reserves in Bitcoin, with a target of buying and accumulating $120 million worth of Bitcoin.
Also on Monday, Japanese investment firm Metaplanet unveiled a shareholder rewards program, where prizes are drawn in Bitcoin. Shareholders who own a minimum of 100 shares by December 31 are eligible to participate in the program, which has a total prize pool of 30 million yen (about $199,500) in BTC.
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 prizes will be distributed through a raffle draw among 2,350 contributors of varying amounts, and new account holders opened with SBI VC Trade between November 18 and March 31, 2025 will be able to participate by registering on the dedicated website before the deadline.
Bitcoin Price Prediction and Institutional Impact Looming
Bitcoin has been on a rollercoaster ride lately, surging by around 40% after Trump won the US presidential election in November, but the question now is whether massive investments by major players like MicroStrategy, Metaplanet, MARA Holdings and Genius Group will provide the momentum needed to propel Bitcoin’s price – despite its decline – towards its ambitious target this month.
Current market conditions, supported by massive investments by major corporations, point to a potential bullish trend for Bitcoin’s price, and with the $100,000 level being targeted, the impact of institutional buying on its future prospects remains to be watched closely, especially since the combined efforts of these prominent players have sparked a new wave of investments, which could suggest a potential price takeoff.
