Gamestop bought $ 500 million in Bitcoin

Gamestop announced on Wednesday that it had bought it 4,710 BitcoinWhich is worth more than $ 500 million at the time of purchase.

The retail video game series has struggled to stay relevant at a time when digital games purchases are increasingly common – in addition, the company took a new type of reputation when it was inadvertent Short pressure In 2021.

Gamestop shares are still somewhat inflated from where it was before Intervention From Reddit Community R/Wallstreeetbets, but years of unexpected moment in the spotlight, Gamestop still decreases annually in Net sales.

To support its financial data, Gamestop Declare For investors in March, it will update its investment policy to add Bitcoin as the origin of the treasury reserve, and today’s news is Gamestop on this promise. Gamestop Stock Stumbling after Each advertisement is likely to be encryptive, probably due to investor concerns about historical fluctuations of encryption.

The last Gamestop interest in Bitcoin is not as random as it might seem.

Under the then President Joe Biden, the United States government was turning against the encryption industry because of its association with scam and corruption. Now, the Trump administration has turned the script and found a Bitcoin strategic reserves. Trump Media Company He also has plans to raise $ 2.5 billion to buy bitcoin.

Trump even invited his best holders Mumikoin – Volatile encoded currency that is not linked to any real determinant of value, but the rocking passions of some communities via the Internet – to a private dinner in the White House.

When Trump and his family became more intertwined with encryption, his opponents raised concerns about Trump’s ability to manipulate the encryption market to make his own financial gains.

Chuck Schumer, D-AR, responded to Trump’s increasing encryption with “17 Democratic Senate members, D-Nyr and Jeff Mercury to invest Trump’s increasing encryption with”.Ending the Corruption Corruption Law“

Senator Merkeley said in a press release. “This is a deep, corrupt scheme. It exposes our national security and leads to the erosion of the public’s confidence in the government.”

But without support across the corridor, these efforts are unlikely to acquire Trump’s morally suspicious investment.

With the United States government alongside it, the Bitcoin price jumped to the highest level ever in May, breaking the mark of $ 110,000 after declining to about 75,000 dollars in April. Companies like Tesla, Coinbase, and blocks They have already performed large purchases from Bitcoin as a way to develop the company’s assets, each owned by more than one billion dollars from Bitcoin.

Now, with a huge bitcoin purchase, Gamestop follows the steps of these companies.