GameStop’s Bitcoin Investment Plan Potentially Triggers Crypto Market Revival!

Jakarta, Pintu News – Leading American video game retailer GameStop (GME) has officially announced its plan to buy Bitcoin using the company’s cash. This announcement sparked widespread attention, not only in the stock market but also in the cryptocurrency community.

Although GME’s share price had spiked, market turmoil due to President Donald Trump’s tariff policy held back further rallies. However, GameStop’s strategic move is believed to be a new trigger in reviving positive sentiment in the crypto market, which has recently been in a state of fear.

Background on GameStop’s Bitcoin Investment Plan

Speculation regarding GameStop’s plans to buy Bitcoin first surfaced after CEO Ryan Cohen met with Michael Saylor, the executive of the public company with the largest BTC holdings. Photos of their meeting posted on social media sparked heated discussions in the crypto community. CNBC later reported that GameStop was exploring possible investments in alternative assets, especially Bitcoin, based on unnamed internal sources.

This move was further reinforced when Strive’s CEO, Matt Cole, sent an open letter to Ryan Cohen suggesting that GME make Bitcoin the company’s reserve asset. Finally, one week ago, GameStop officially announced that its board of directors had approved the plan to purchase BTC with company cash. With $4.8 billion in cash (1 USD = Rp16,995), GME has a huge capacity to accumulate crypto assets.

Also Read: Bitcoin (BTC) is recovering, but big hurdles still loom in April 2025

Potential Impact on Crypto Market

GameStop stated that it will use cash on hand as well as proceeds from future debt and stock issuances to invest in Bitcoin and USD-based stablecoins. In fact, the company has raised $1.5 billion through the issuance of convertible bonds, and the funds have been allocated for the BTC acquisition. In its official documents to the SEC, GameStop mentioned that the acquisition is for general corporate purposes, including investment in Bitcoin.

Such a move is believed to create major buying pressure in the crypto market. In a sluggish market, the entry of large companies such as GME into digital assets could restore investor confidence and encourage the return of bullish momentum. History has shown that large purchases by institutions can have a significant impact on the price of Bitcoin and other crypto assets, including altcoins and meme coins.

Implications for the Ethereum Community and GME Token

The crypto community, including GME Ethereum, has responded to this enthusiasm with optimism. GME Ethereum is an Ethereum blockchain-based token born from the GME “meme stock” phenomenon. The token was developed in a decentralized ecosystem and currently has over 10,000 holders. Its community has held discussions on the X platform regarding the potential impact of GameStop’s purchase of Bitcoin.

If the crypto accumulation by GameStop is actually realized, then GME Ethereum – which is symbolically and community closely tied to GME stock – could get a significant price boost. Currently, GME Ethereum is one of the most active meme coins on the Ethereum network. With the close relationship between company actions and community sentiment, even a small trigger can drive a big spike in the meme coin segment.

Conclusion

GameStop’s move to buy Bitcoin reflects a shift in corporate strategy in response to the dynamics of the global economy and developments in financial technology. In addition to strengthening its internal financial position, this decision also has the potential to trigger major changes in the depressed crypto market. With more and more companies exploring investments in digital assets, GME’s move could be the starting point of a new institutional wave that will change the direction of the crypto market going forward.

Also Read: First XRP ETF in the US Launched, Provides New Investment Opportunities!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Cryptopolitan. The GME Effect: How GameStop’s Bitcoin move could spark a crypto rally. Accessed April 9, 2025.
• Featured Image: Coindesk