Bitcoin News: GameStop Adds Bitcoin to Treasury Reserves Amid Improved Earnings

In a significant move, GameStop has announced the addition of Bitcoin to its treasury reserves, marking a step forward in the adoption of cryptocurrency by mainstream companies. This decision comes on the heels of the company reporting improved quarterly earnings, with net income more than doubling in the fourth quarter of 2024.

GameStop Board Approves Bitcoin for Treasury Reserves

GameStop has officially added Bitcoin (BTC) to its treasury reserves after its board approved the decision. The move comes as the firm reported improved quarterly earnings, with net income more than doubling in the fourth quarter of 2024. The Texas-based company announced on March 25 that its board has “unanimously approved an update to its investment policy to add Bitcoin as a treasury reserve asset.” In its latest fiscal filing, the firm disclosed that it will use a portion of its cash reserves or proceeds from future debt or equity issuances to invest in the number one cryptocurrency, although the maximum amount allocated was not specified.

Bitcoin’s Price Tumbles, Crypto Market Capitalization Rises

Bitcoin’s price tumbled 2% to settle at $86,000 on Wednesday after another unsuccessful attempt at breaching the $90,000 resistance. crypto market capitalization rose 0.5% in the last 24 hours to $2.89 trillion, the highest since March 8, but still below the 200-day moving average. Recent gains have come on low trading volume, causing some concern.

Bitcoin Remains Strong Despite Slower Capital Inflows

Bitcoin has reclaimed the $85,500 level, reigniting hopes for a push toward the $90,000 mark. However, uncertainty continues to weigh on global financial markets due to fears of an escalating trade war and macroeconomic instability. Despite this, Bitcoin shows signs of strength. Concerns about declining Bitcoin liquidity due to slowing capital inflows have surfaced, but on-chain data suggests otherwise, with Bitcoin’s Realized Capitalization growth currently at +0.6% per month.

Bitcoin’s Risk Level Eases, But Breakout Uncertain

Speculators’ risk appetite for Bitcoin (BTC) improved with bids from long-term holders, pushing it to $88K. However, analysts note that a strong, sustained recovery path wasn’t clear yet. According to Swissblock, an analytics firm by Glassnode founders, risk aversion eased slightly but didn’t guarantee a breakout. The Crypto Fear and Greed Index also increased, signaling a shift into a low-risk regime, which reduces the likelihood of a sharp drop but doesn’t guarantee a breakout.

GameStop (GME) to Raise $1.3 Billion to Purchase Bitcoin

GameStop (GME) plans to raise $1.3 billion to purchase Bitcoin through a private offering of convertible senior notes. The move follows Michael Saylor’s strategy and will allow the gaming retailer to begin funding its efforts to invest in the leading cryptocurrency. GameStop expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with GameStop’s Investment Policy.