
GameStop’s $1.5B Bet on Bitcoin Pushes GME Stock Price
GameStop’s latest fundraising brought its stock to the green zone as the video game retailer wants Bitcoin exposure.
GameStop’s latest fundraising brought its stock to the green zone as the video game retailer wants Bitcoin exposure.
Bitcoin price rebounds above $84K as selling slows. Traders eye $86K resistance and $78K support for the next move.
Japanese investment firm Metaplanet Inc acquired an additional 696 BTC using cash-secured put options, bringing its total holdings to 4,046 BTC.
Spot Bitcoin ETFs recorded their second-largest monthly outflow in March as the crypto community showed mixed reactions toward the market movements.
Metaplanet Inc’s board of directors approved bond issuance worth $13.33 million to buy Bitcoin.
Bitcoin price has fallen to $81,500 as global markets brace for potential volatility with the onset of Trump’s “Liberation Day” tariffs on April 2.
The Bitcoin Macro Index has started showing signs of bearish divergence raising concerns that Bitcoin may have already reached its long-term peak.
Market volatility is at play, with Bitcoin currently trading around the $85,000 range and Peter Brandt backing a potential drop to $70,000
Along with the GameStop stock, BTC price is also seeing some selling pressure, dropping 1.7% today and slipping under $86,000.
The Blockchain Group has bolstered its Bitcoin treasury with a $50M purchase, as analysts eye a potential BTC rally toward $95,000.
GameStop announced plans to allocate part of its $4.8 billion cash reserves to Bitcoin and US-dollar-pegged stablecoins, triggering a 10% surge in stock price.
As Mt. Gox moved over a billion dollars in Bitcoin, Kentucky and Arizona welcomed pro-crypto developments, suggesting massive adoption levels.
A Bitcoin whale recently withdrew 3,238 BTC (worth $284 million) from Binance, raising the total holdings to 15,986 BTC, worth $1.39 billion.
BitMEX founder Arthur Hayes sees Bitcoin price retesting the $110,000 high amid growing resurgence, however, with correction still ahead.
Bitcoin gained strong bullish momentum as the weekly inflows into the US-based spot BTC exchange-traded funds reached their two-month highs.
Bitcoin News Today
Bitcoin (BTC) news covers all information on Bitcoin and other related cryptocurrencies. Bitcoin is a digital currency that was created in 2009 by anonymous founder Satoshi Nakamoto and has since gone on to lead the rise of other digital currencies like it, such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), EOS, Binance Coin (BNB), Monero (XMR), Bitcoin Cash (BCH) and Tether (USDT) among others. The cryptocurrency is decentralized and thus can be sent and transacted over its own peer to peer Blockchain network without a middleman verifying a transaction.
Bitcoin Adoption
Bitcoin (BTC) has grown in leaps over the decade and has had it’s worth multiply in hundreds and thousands since January 2009 when the first BTC block was mined. Bitcoin transactions are irreversible and pseudonymous amongst other properties. Confirmed transactions on the Bitcoin Blockchain network cannot be undone, which in its way also contributes to the strong security associated with BTC.
Over time the awareness that bitcoins like most crypto currencies operate outside the control or regulation of any third parties such as banks, financial institutions, or the government triggered a wakeup call directed to the risks investors may be exposed to when involved in this venture.
Venturing in Bitcoin
Apart from being trustless, the crypto coin is also permissionless, which sets it apart from traditional fiat currencies and government issued money. The cryptocurrency exchange is also important in bitcoin transactions and the overall ecosystem. You’ll need a cryptocurrency exchange to exchange fiat currencies or regular-coins for some BTC.
Bitcoin Mining
Bitcoin mining operations are done to issue new BTCs into the market, with the overall BTCs eligible for circulation set at 21 million. At present, Bitcoin now has more than 18 million coins in circulation and its next halving event, which would reduce its mining rewards by half for the third time, has been slated for May 2020. At present, Bitcoin has a total market capitalization higher than $110 billion and has hit records higher than 300 billion in the past. The next few years might see Bitcoin eclipse its previous records.