“‘Buckle Up’—GameStop Confirms Bitcoin Bombshell As Wild Speculation Fuels Huge Price Surge”
05/28 replace beneath. This publish was initially printed on Might 28
Bitcoin has surged in latest weeks, topping the earlier bitcoin worth all-time excessive, with Tesla billionaire Elon Musk quietly confirming what might be a bitcoin and crypto game-changer.
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The bitcoin worth has soared to round $110,000 per bitcoin, up 50% since its April lows as a pointy fall within the U.S. greenback sparks “cataclysmic” fears of a looming “crisis.”
Now, as one Wall Road large out of the blue flips on bitcoin, wild hypothesis is swirling that meme inventory darling GameStop might be about to verify its long-awaited bitcoin purchase.
05/28 replace: GameStop has confirmed its first bitcoin buy, announcing it’s purchased 4,710 bitcoin price $511 million.
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Meme inventory darling GameStop has seen its share worth soar because it mentioned it might start shopping for … Extra
“It’s time to start paying attention to GameStop,” one bitcoin dealer posted to X, commenting on a video clip taken from the Bitcoin Journal dwell stream of the Bitcoin 2025 convention in Las Vegas. “Buckle up,” added one other.
“I think the obvious name is GameStop,” Bitcoin Treasuries podcast host Tim Kotzman mentioned during the dwell stream when requested which firms merchants needs to be taking note of, saying the opposite title can be “the U.S. government.”
Earlier this 12 months, GameStop, which rode the meme inventory craze to a $30 billion market capitalization in 2021, introduced it had raised $1.5 billion in a non-public providing of convertible notes to purchase bitcoin however has not but introduced that it has made a purchase order.
GameStop’s share worth has exploded nearly 70% since its early April fund elevating announcement and is now buying and selling at ranges not seen for the reason that tail finish of the meme inventory craze in 2022.
In March, Kip Herriage a GameStop investor with Vertical Analysis Advisory told CNBC he believes GameStop’s inventory will rocket to $100 per share, topping its meme inventory craze peak of round $80, if it goes all in on bitcoin.
“We applaud [GameStop chief executive] Ryan Cohen on this excellent move,” Herriage mentioned, including GameStop ought to plow an additional $1 billion into bitcoin past the $1.5 that it’s already earmarked for bitcoin and the one downside Cohen has is that he didn’t do that sooner.
A flood of firms are vying to repeat Michael Saylor’s success together with his software program company-turned-bitcoin purchaser Technique, which has seen its market capitalization rocket after it started shopping for bitcoin in 2020—catapulting it into the Nasdaq 100 index late final 12 months.
Technique, beforehand referred to as MicroStrategy, now owns nearly 600,000 bitcoin price simply over $60 billion after promoting large quantities of shares and issuing debt to gas its purchases.
Talking at Bitcoin 2025, White Home crypto czar David Sacks repeated the official line that the U.S. might purchase extra bitcoin if Commerce secretary Howard Lutnick or Treasury secretary Scott Bessent can discover a method to take action in a “budget-neutral” method with out a tax or including to the rising nationwide debt.
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The bitcoin worth has surged to a contemporary all-time excessive this month, triggering a flood of bullish … Extra
“Maybe by finding the money from some other program that’s not using it—then we could potentially acquire more bitcoin,” Sacks instructed Gemini co-founders Cameron and Tyler Winklevoss in an on-stage interview.
“The question is, can we get either the Treasury Department or the Commerce Department to get excited about that because if they do and they can figure out how to fund it, they actually do have presidential authorization,” Sacks mentioned in feedback reported by Cointelegraph, referring to Trump’s government order.
“The Trump administration continues signalling strong support for bitcoin,” Gadi Chait, head of funding at Gibraltar-based non-public financial institution Xapo, mentioned in emailed feedback, pointing to Trump’s media firm, which is behind the Fact Social app, confirming a Monetary Instances report that it plans to boost $2.5 billion to purchase bitcoin and different cryptocurrencies.
“This extraordinary endorsement from the very best ranges of presidency underscores simply how mainstream bitcoin has turn out to be. If this momentum continues, discussions of bitcoin’s future could lastly transfer past short-term concern over its inherent volatility, and as a substitute concentrate on its future as a foundational asset throughout the international economic system.”
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