Video Games and Gamestop Retailing Video Shares almost 11% on May 28 after the company announced the first Bitcoin purchase, which triggered a classic reaction-the-News.
Stock is closed to $ 31.21 in New York Stock Exchange, According to In Google Finance.
The company announced the purchase of 4,710 Bitcoin (Btc) worth worth about $ 513 million on May 28. Gamestop Confirmed plans to create a BTC treasury approach On March 26, following the months of the investor’s speculation and rumors that it will begin to accumulate cryptocurrency.
Trump Media and Technology Group (TMTG), the parent company of President Donald Trump’s social platform platform, also saw its sharing after Announcing a $ 2.5 billion increasing capital to buy Bitcoin. Since the May 27th announcement, TMTG stock has dropped by more than 24%.
Moving Gamestop to adopt Bitcoin as a Treasury reserve asset reflects a growing trend with companies returning to Bitcoin to protect cash reserves or re -reposing themselves as vehicles in getting Bitcoin.
Related: Bitcoin accepted in Fast Food Chain Steak ‘n Shaking from May 16
The Bitcoin as a fence against Fiat Currency Inflation
Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Gamestop CEO Ryan Cohen said “Bitcoin and gold could be fences against global lowering of money and systematic risk.” According to Cohen:
“Bitcoin has some unique benefits compared to gold. The aspect of the portability, it is immediately transferred to the world, while the gold is huge and very expensive to send, the authenticity is immediately proven by the blockchain. You can easily secure bitcoin in a purse, while gold needs insurance, and very expensive.”
The CEO also mentioned the Completely lack of bitcoin and the potential for the rate of gold inflation to increase due to technology advances as a factor in favor of the choice of bitcoin in gold for long -term value storage.
Bitcoin also has a greater potential reversal because the digital asset is still in childhood and continues to be -monetize. According to Cohen.
“Gold is a more mature market. It’s about $ 20 trillion in market capitalization, while Bitcoin is now nearly $ 2 trillion,” said the CEO of Gamestop.
Magazine: Bitcoin miners are ourselled after electric robbery, replace ‘closing’ scam: Asia Express
