It became a wild few years for Gamestop, the video game retailer became Memecoin stock. After being pulled from the edge of the losses in 2021 thanks to an emerging stock price, the company has made smart business decisions in recent years, such as shrinking its physical footsteps and focusing on higher margin items.
Now, Gamestop is trying to secure its safety by investing in Bitcoin (Btc). This method seemed to work for the approach, the firm of Michael Saylor’s business intelligence firm became the Bitcoin Bank. Approach now collected more than 500,000 BTC by sequential purchases. And despite experiencing massive volatility, the strategy stock has raw more than 2,100% since the first bitcoin got back in 2020.
Gamestop has been able to return to relevance -saying it will not be secured somehow in the next decade of its existence by riding the Bitcoin wave?
This week of the Crypto Biz Newsletter has a bitcoin gambit of Gamestop, the adoption of magnet tokenization and the recovery of bitcoin mining revenues.
Gamestop: Following Strategy Playbook
On March 25, Gamestop confirmed that it had Received Board Approval To invest in bitcoin and US-dollar-pegged stablecoins. There is a reason to believe that the video game retailer can make a huge splash, given the corporate cash balance of nearly $ 4.8 billion. This is a noticeable jump from one year earlier if the company’s sheet balance is around $ 922 million.
There is also a reason to believe that Gamestop CEO Ryan Cohen was killed by Michael Saylor after the two met in early February. Cohen confirmed that the meeting took place by posting an unpleasant picture to him and Saylor on Feb. 8.
Source: Ryan Cohen
For his part, Saylor continues to accumulate as much BTC as possible. Earlier in the week, he announced that the approach had gained another 6,911 BTC, carrying its stockpile at 506,137 BTC.
Tokenized real estate came to the psycho
Digishares launched a real estate trading platform in polygonProviding investors in access to a liquid on- and off-ramp for commercials and dwellings.
Remestate.exchange, also known as Rex, was launched along with two lists of luxury owned in Miami, Florida, including a 520-unit tower and a 38-unit residence.
A Google Street view of one of the lists of ownership, the Legacy Hotel & Residences in Miami, Florida. Source: Google Maps
Digishares CEO Claus Skaaning told Cointelegraph that the REX has an additional five or six pipelines in the pipeline, added that Rex will eventually support all kinds of commercial and residential properties.
Rex operates in the United States through a license with a capital capital, a broker-dealer registered with the Securities and Exchange Commission. The platform is also looking for registrations in the European Union, South Africa and the United Arab Emirates.
Tokenized assets to come to CME
CME GROUP, ONE OF THE WORLD’S LARGEST DERIVATIVES EXCHANGE OPERATORS, HAS Tapped Google Cloud To launch the tokenization program of its asset.
Specifically, the CME group uses Google Cloud Universal Ledger (GCUL) to look forward to traditional blockchain ownership -a step that the company has said that will improve efficiency in the capital market and wholesale payments.
The tokenization can “deliver significant efficiency for collateral, margin, negotiation and fee as the world is moving towards 24/7 trading,” said Terry Duffy, chairman and CEO of the CME Group.
Although CME did not provide specific details about which ownership would be part of the tokenization pilot, it plans to start technology testing with market participants next year.
Bitcoin Miner’s revenues are post-halving
Bitcoin miners are on track For recovery following the event in April 2024 by the network, which reduced mining revenues from 6.25 BTC to 3.125 BTC.
According to data from coin metrics, Miner revenues approach $ 3.6 billion in the first quarter, not far from the previous quarter of $ 3.7 billion tally. It was marked by a major rebound from the third quarter of 2024 when the revenues fell to $ 2.6 billion.
Miners quickly adapt to the latest quadrennial halving, even though the revenues remain lower than the pre-halving peak in the first quarter of 2024. Source: Coin
“For almost a year since the 4th division of Bitcoin, miners have endured a period of stabilization, adapting to reduced block rewards, lighter margin, and transferring dynamic operations,” Coin Metrics said.
Despite the adverse market conditions from dividing, some miners doubled their approach to the Bitcoin Hodl. Financial Financial Officer of Hive Digital Cointelegraph said the company is dedicated to “maintaining a significant component of Mined Bitcoin to benefit from potential price appreciation.”
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