Gamestop announced Wednesday that he had bought 4,710 bitcoinwhich is worth more than $ 500 million at the time of purchase.
The retail chain of video games had trouble remaining relevant at a time when digital game purchases are increasingly popular – in addition, the company has taken a new type of notoriety when it has become involuntary short pressure in 2021.
The Gamestop stock remains a little swollen from the place where it was before melee From Reddit Community R / Wallstreetbets, but to years of its unpredictable moment under the spotlight, GameStop always reports an annual decrease in net sales.
To support his finances, Gamesop announcement To investors in March, he would update his investment policy to add Bitcoin as a cash reserve ratio, and today’s news represent the monitoring of Gamestop on this promise. Gametop Stock fall After Each announcement linked to the crypto, probably due to the concerns of investors concerning the historical volatility of the crypto.
Gamescoin’s recent interest in Bitcoin is not as random as it may seem.
Under the president of the time, Joe Biden fraud And corruption. Now the Trump administration has overturned the script and establishes a Strategic bitcoin reserve. Trump media business Also predicts to raise $ 2.5 billion to buy Bitcoin.
Trump even invited the best holders of his even – A volatile cryptocurrency which is not fixed to a real determinant of value, but rather the Trollish whims of certain online communities – at a private dinner in the White House.
While Trump and his family become more entwined with the crypto, his opponents have raised concerns concerning Trump’s ability to manipulate the cryptography market for his own financial gain.
Co-played by 17 other Democratic senators, Chuck Schumer (D-NY) and Jeff Merkley (D-OU) responded to Trump’s growing investment in the crypto with the “”Finish the Crypto Corruption Act. “”
“Currently, people who wish to cultivate the influence with the president can enrich him personally by buying a cryptocurrency he has or controls,” said Senator Merkley press release. “It is a deeply corrupt regime. He endangers our national security and erodes public confidence in the government. ”
But without support in the aisle, these efforts to alleviate Trump’s ethical cryptographic investment are probably not likely to gain momentum.
With the US government, for its part, the Bitcoin price went to peaks of all time in May, crossing the $ 110,000 mark after falling at around $ 75,000 in April. Companies love Tesla, Coinbase and Block have already made big bitcoin purchases as a means of developing the company’s assets, each holding more than $ 1 billion in Bitcoin.
Now, with its massive purchase of Bitcoin, GameStop follows in the footsteps of these companies.
