BlackRock CEO Larry Fink said sovereign wealth funds purchased Bitcoin during its recent decline below $90,000. Speaking at the New York Times DealBook Summit on December 4, 2025, Fink said these state-backed investors bought incrementally at $120,000 and $100,000, then increased purchases when Bitcoin fell into the $80,000 range. He said these institutions are building long-term positions rather than trading.

Bitcoin recovered above $90,000 after falling to $88,000 earlier this week. The rebound was accompanied by positive shifts in derivatives markets and increased spot demand from U.S. investors, data show. A key futures market indicator reached 56.5, approaching the 60 threshold that would confirm sustained bullish conditions.

A previously inactive whale address withdrew 171 BTC valued at $15.79 million from Binance after a year of dormancy, according to Onchain Lens. Bitcoin traded at $93,050 with minimal 24-hour movement as Open Interest declined 0.70% to $60.19 billion, reflecting reduced trader activity while the asset tests descending trendline resistance.

Peter Schiff, a vocal cryptocurrency critic, launched T-Gold.com on December 4, enabling users to purchase physical gold and silver convertible into blockchain tokens. In a discussion with Binance founder Changpeng Zhao, Schiff acknowledged that tokenization enhances gold's transportability, divisibility, and fungibility while maintaining its store-of-value properties. Despite adopting blockchain infrastructure, Schiff maintained his skepticism toward digital currencies without physical backing.

BlackRock CEO Larry Fink said multiple sovereign wealth funds have been acquiring Bitcoin at price levels including $120,000, $100,000, and the $80,000 range. The purchases represent long-term strategic positions rather than short-term trades, according to Fink. Technical analysis shows Bitcoin remains within an ascending channel with potential upside toward $100,000 if key support levels hold.

MicroStrategy will not be compelled to liquidate its Bitcoin holdings even if removed from MSCI indexes, according to Matt Hougan, Chief Investment Officer at Bitwise. The company holds $60 billion in Bitcoin and $1.4 billion in cash, with no debt conversion scheduled until February 2027. Hougan emphasized that no mechanism exists to force cryptocurrency sales simply because the stock price falls below net asset value.

Strategy has sharply reduced its Bitcoin acquisition pace, purchasing only 135 BTC in December 2025 compared to 134,000 BTC at its 2024 peak. The company raised over $1.44 billion in equity to establish a dollar reserve covering preferred stock dividends and bond interest for 12 to 24 months. CryptoQuant data show monthly acquisitions declined from 134,000 BTC during the 2024 peak to 9,100 BTC in November 2025.

Bitcoin's failure to break through $94,000 on December 3 has left more than a quarter of circulating supply in unrealized loss. On-chain data show the cryptocurrency fell below the 0.75 cost-basis quantile in mid-November, a threshold where three-quarters of supply remains profitable. The current structure presents elevated risk as price remains below critical cost-basis levels identified by quantile analysis.