Bitcoin News: 9GAG Acquires Hong Kong-listed Firm for Cryptocurrency and AI Expansion

In a significant move to diversify its operations, popular meme-sharing and news site 9GAG has acquired Hong Kong-listed Howkingtech. The acquisition, which could see Howkingtech rebranded as MemeStrategy, is aimed at exploring opportunities in AI, cryptocurrencies, and the creator economy.

9GAG Acquires Hong Kong-listed Firm to Buy Bitcoin and Expand into AI

9GAG, a popular meme-sharing and news site, has reportedly acquired Hong Kong-listed Howkingtech, which may be rebranded as MemeStrategy. The acquisition is part of a plan to explore AI, cryptocurrencies, and creator economy opportunities. Ray Chan, the co-founder of 9GAG, has taken charge of Howkingtech International. The purchase involves a maximum cash consideration of HK$79,649,599 (about $10.2 million). Following the news, Howkingtech’s shares surged 3.5% on Hong Kong’s stock exchange. The move comes as 9GAG looks to leverage the transparent operations of cryptocurrencies, with Bitcoin (BTC) likely to be a key focus.

Bitcoin Funding Rates Turn Negative: What It Means for BTC’s Future

In the last 30 days, the Bitcoin market has dropped by around 9.7%. Currently, the price of BTC sits nearly 30% below its all-time high. However, experts like Axel Adler Jr suggest that the BTC market is showing strong signs of recovery. Corporate investors are actively buying BTC, long-term BTC holders have resumed accumulation, and selling pressure in the market remains low. Adler acknowledges macroeconomic hurdles are blocking the growth of Bitcoin but states that positive signals from the Federal Reserve or the Trump administration could lead to a 50% price surge.

Federal Reserve Policy Shift: Bitcoin Price Outlook Discussed by Arthur Hayes

Jerome Powell, head of the Federal Reserve, has sought advice from former Bank of Japan Governor Haruhiko Kuroda. Following a troubling meeting with new US Treasury Secretary Scott Benette, Powell discussed his concerns with Kuroda. While the details of their conversation are not disclosed, the focus shifts to Bitcoin’s potential to break the $250,000 mark by the end of the year, as discussed in a new article by Arthur Hayes. The article hints at significant policy shifts in global central banking circles that could impact cryptocurrency markets.

GameStop Completes $1.5B Sale, Eyes Bitcoin Acquisition

GameStop, the video game retailer, has successfully completed a $1.5 billion offering of convertible senior notes on Apr. 1, 2025, raising $1.48 billion after fees. The funds will be used for general corporate purposes, including the acquisition of Bitcoin for its treasury. The sale surpassed expectations by selling an additional $200 million in notes. GameStop’s decision to invest in Bitcoin aligns with a trend of publicly traded companies diversifying their balance sheets by holding the cryptocurrency. BTC mentioned.

Bitcoin ETFs Experience Sustained Outflows

Bitcoin ETFs have continued to see outflows over the past few days. On March 31, spot Bitcoin ETFs recorded a combined net outflow, with IBIT posting an inflow of $15.1 million, BITB having an outflow of $19.9 million, ARKB losing $23.2 million, and BTCW shedding $32.6 million. These flows followed a $93.2 million outflow on March 28, which ended a streak of positive inflows. On April 1, total net outflows ROSE to $157.8 million, with FBTC registering an $85.4 million outflow, BITB swinging to a positive $24.5 million, ARKB dropping $87.4 million, EZBC seeing a $7.4 million inflow, and BTCW losing $6.8 million. GBTC also recorded a $10.1 million outflow. No significant activity was noted for other issuers.