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A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12837
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60.66%
Bitcoin Share
coinpedia 2025-02-14 08:40:48

Is GameStop buying Bitcoin to pioneer a New Crypto Investment Strategy?

Is GameStop buying Bitcoin to pioneer a New Crypto Investment Strategy?

The post Is GameStop buying Bitcoin to pioneer a New Crypto Investment Strategy? appeared first on Coinpedia Fintech News MicroStrategy, with a BTC holding of 478,740 BTC, is the public company that holds the highest number of Bitcoin tokens. It was in the year 2024 that it adopted an aggressive BTC investment plan, though it had entered the market in 2020 itself. Last year alone, the company amassed as many as 257,259 BTC tokens. Recently, it openly called for top companies, even Microsoft, to consider its BTC investment strategy. Many companies have come forward showing interest in following the footprint of MSTR. Interestingly, there are rumours that the next big player to adopt MSTR’s BTC investment strategy may be GameStop. Notably, as soon as the rumours gained attention, the price of GME started to climb. Here is what you should know about the developments on the GameStop market. Bitcoin Buzz Boosts GameStop Stock On February 8, GameStop CEO Ryan Cohen published a photo, which shows him standing beside MicroStrategy co-founder Michael J. Saylor. pic.twitter.com/wlOwEGli6n — Ryan Cohen (@ryancohen) February 8, 2025 It was the event that triggered the rumours about the possible adoption of MSTR’s BTC strategy by GME. On the first market day after the event (February 10, 2025, Monday), the price of GameStop Corporation jumped sharply by around 6.31%. At one point on February 11, the GME price touched as high as $27.76. Today, the market has experienced a surge of nearly 2.25%. GameStop’s Crypto History Once GameStop was a prominent player in the Web3 industry. It even had a NFT marketplace. However, last year, it had to close down its engagements in the market as it failed to overcome certain regulatory challenges. The political climate in the US shifted in favour of the Web3 industry in late 2024, when pro-crypto leader Donald Trump defeated Kamala Harris, who represented a crypto-skeptic regime. If the rumours about GameStop’s plan to re-enter the crypto market are true, the political shift and the anticipated creation of a clear crypto regulatory framework by the Trump administration may have encouraged the company to rethink its stance on the crypto industry. The Meme Stock Factor There is no surprise that a minor social media buzz has created extreme excitement in the GameStop market. GameStop is generally known as a meme stock. A stock, which is heavily influenced by social media and online communities, is generally called a meme stock. At the start of this week, the price of GME was at $25.50. In the last five days, the market has seen a growth of 5.57%. In the last 24 hours alone, it has grown by over 1.35%. Currently, the GME price stands at $26.34.

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