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Will GameStop Buy Bitcoin Just Like Strategy? Crypto Market Reacts

Published by
Elena R

Strategy (previously, MicroStrategy), the public company with the largest Bitcoin holdings, has been making bold moves in the crypto space. With 478,740 BTC under its belt, the company has cemented itself as a major force in the Bitcoin market. While it first started buying in 2020, it ramped up its strategy in 2024, adding a staggering 257,259 BTC last year alone.

Recently, it openly called for top companies, even Microsoft, to follow its Bitcoin playbook. And here’s where things get interesting. Rumors are swirling that GameStop could be the next big name to adopt this strategy.

The market is already reacting, and investors are paying close attention. Here’s what’s happening and why it matters.

Bitcoin Buzz Boosts GameStop Stock

On February 8, GameStop CEO Ryan Cohen published a photo, which shows him standing beside Strategy co-founder Michael Saylor  

Following the buzz, GameStop’s stock (GME) saw a sharp increase. On February 10, the first trading day after the post, GME jumped 6.31%. The rally continued on February 11, briefly pushing the price up to $27.76. Today, GME has gained another 2.25%, adding to investor excitement.

GameStop’s Crypto History

GameStop was once actively involved in the Web3 space, even launching its own NFT marketplace. However, due to regulatory challenges, the company was forced to shut down its crypto ventures last year.

Now, the situation may be changing. In late 2024, the U.S. political landscape shifted in favor of crypto when pro-crypto leader Donald Trump defeated Kamala Harris, whose administration had been more skeptical of digital assets. If GameStop is considering a return to crypto, the expected regulatory clarity under the Trump administration could be a major factor in its decision.

The Meme Stock Factor

GameStop is widely known as a meme stock, meaning its price is often influenced by online discussions and retail investor enthusiasm.

At the start of this week, GME was trading at $25.50. Over the past five days, the stock has risen 5.57%, including a 1.35% increase in the last 24 hours. As of now, GME stands at $26.34, with investors closely watching for further developments.

If history has taught us anything, it’s that GameStop thrives on surprises. Whether Bitcoin is next remains to be seen, but the market is already reacting.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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