Gamestop announced on Wednesday that he bought 4.710 Bitcoinwhich is worth more than $ 500 million at the time of the purchase.
The retail chain of video games has struggled to remain relative at a time when digital gambling purchases are increasingly popular – plus, the company has taken over a new kind of reputation when the center of a short compression in 2021 became unintentionally.
Gamestop stock remains a little inflated from the point where it was before the mixing R/Wallstreetbets community was involved, but years outside its unpredictable moment in the spotlight net sales.
To support his finances, gamestop announced To investors in March that it will inform its investment policy to add Bitcoin as an asset of the Treasury Reserve and today’s News represent the monitoring of gamestop to this promise. Gamestop stupid after Any announcement related to encryption, probably due to investors’ concerns about Crypto’s historical volatility.
Gamestop’s recent interest in bitcoin is not as accidental as it seems.
Under former President Joe Biden, the US government broke the encryption industry due to its connection to fraud and corruption. Now, Trump administration has reversed the scenario and creates a Bitcoin reserve. Trump media company It also has plans to raise $ 2.5 billion to buy bitcoin.
Trump even called his top holders ape – A volatile encryption that is not linked to any real decisive factor, but rather, the holes of certain electronic communities – in a private dinner at the White House.
As Trump and his family become more associated with Crypto, his opponents raised concerns about Trump’s ability to manipulate the encryption market for his own financial gain.
He worked with 17 other Democratic Senators, Chuck Schumer (D-NY) and Jeff Merkley (D-OO) responded to Trump’s growing investment in Crypto with “”Law on encryption corruption at the end. ”
“At present, people who wish to cultivate influence with the president can personally enrich him by buying encryption he owns or controls,” Senator Merkley said in a press release. “It is a deeply corrupt plan. It jeopardizes our national security and erodes public confidence in the government.”
But without support throughout the corridor, these efforts to alleviate Trump’s moral suspicious cryptography are unlikely to gain dynamic.
With the US government, for its part, the price of Bitcoin jumped in high times in May, breaking the $ 110,000 signal after falling to about $ 75,000 in April. Companies like Tesla, Coinbase and Block They have already made large Bitcoin purchases as a way of developing the company’s assets, each holding more than a billion dollars worth Bitcoin.
Now, with the huge bitcoin market, gamestop is following in the steps of these companies.
