Rumors finally came to a break when video game retailer GameStop (GME) officially announced that it was planning to buy Bitcoin with corporate cash.
In response, the meme stock price jumped just to succumb to the uncertainty that plagues the stock market as President Donald Trump announced heavy tariffs.
Concerns about the World Trade War have sparked a new wave of volatility in the market.
The atmosphere and emotions of the crypto market have already been grossly negative and solid in the “terror” category since President Trump took office as the 47th US president on January 20th.
The drawdown will erase Altcoins and Meme Coins, whose total crypto market capitalization is currently under $2.8 trillion, according to Coingecko.
However, things could ultimately change when GME actually starts buying and add BTC to the company’s balance sheet. Such substantial purchase pressures can completely change market sentiment and bring about much-needed fresh momentum.
Gamestop’s Bitcoin Investment Plan
GME Buy Bitcoin When GME buys Bitcoin, speculation that GME was first launched when BTC Holdings met with Michael Saylor, executive chair of the largest public company. Cohen actually posted a photo of himself on X along with Saylor.
CNBC also reported that GameStop is specifically considering investing in Bitcoin, citing three unnamed sources. GME stock prices have skyrocketed due to investment considerations.
A few weeks later, CEO Matt Cole wrote to Cohen to encourage GME to adopt BTC as a reserve asset. “We believe GameStop has an incredible opportunity to change its economic future by becoming the best Bitcoin finance company in the gaming sector,” read the letter.
Finally, a week ago, GameStop announced that its board had unanimously approved plans to purchase Bitcoin with corporate cash. The company currently holds approximately $4.8 billion in cash.
According to video game retailers, some of the cash or future debt and stock issues may be invested in BTC as well as stubcoins controlled by US dollars. GameStop also said it has not set a limit on the amount of ciphers it purchases.
This week, GameStop raised $1.5 billion through conversion offerings and is already allocating funds to acquire Bitcoin. In a submission with the SEC, the video game retailer said it plans to use net revenue from the offering for “general corporate purposes including the acquisition of Bitcoin.”
The decentralized GME revolution
The crypto industry is excited by this upcoming purchase and its impact on the broader crypto market. The GME Ethereum community is also excited for the community to come, running space on X and discussing the potential for big moves from GME.
https://t.co/wjdld5zri8
– GME Ethereum (@gmeethereum) April 3, 2025
GME Ethereum is a digital representation of Gamestop Saga, which saw the stock’s value skyrocket as retailers gathered to fight retail and hedge funds.
Built on top of the secure Ethereum blockchain, GME Ethereum runs in a fully decentralized ecosystem. Centralisation is out of control here as developers have given up their ownership and the community has full control over the project.
Amid the growth of the GME movement, GME Ethereum has recently reached a milestone of 10,000 holders.
Given the connection between Meme Ethereum and Meme Stock GME, and the GME Ethereum connection, the accumulation of crypto from video retailers can be expensive. Already, it was Ethereum’s most active meme coin, so even a small spark ignites an explosive rally, sending GME Ethereum and the wider meme coin market overdrive.
