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- GameStop Bets Big on Bitcoin | News on Bitcoin Week 13 of 2025
GameStop Bets Big on Bitcoin | News on Bitcoin Week 13 of 2025
Weekly crypto update on all things Bitcoin to keep you updated
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TL;DR
BTC is up
Bitcoin dominance is up
Strategy Surpasses 500K Bitcoin Holdings
Metaplanet Expands BTC Holdings
French Blockchain Firm Buys 580 BTC
GameStop Bets Big on Bitcoin
Japanese Real Estate Firm Buys Bitcoin
BlackRock Launches Bitcoin ETP in Europe
Bitcoin Miners’ Revenue Stabilizes at $3.6B
MARA’s $2B Stock Sale to Acquire More BTC
Crusoe Sells Bitcoin Mining Unit to NYDIG
And much more!
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Bitcoin Price
Crypto is down this week, with BTC up by 0.1% and ETH down by 3.6%:
Bitcoin dominance has increased over the week, starting from 58.37% to a low of 58.19% and ending at 58.82%. Investor sentiment, regulatory changes, technological advancements, and the overall growth of the cryptocurrency sector shape Bitcoin's market dominance. Its reputation as "digital gold" also enhances its position, making it a key player in the market.
It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.
Bitcoin Market Update: Analysts Warn of Deeper Pullback Amid Macro Concerns
Bitcoin (BTC) has faced renewed selling pressure, dropping 3.5% to an intraday low of $84,120 on March 28, as macroeconomic conditions continue to weigh on risk assets.
TradingView
Analysts suggest that further downside could push BTC towards $72,000-$75,000 if liquidity conditions remain unchanged.
Capital Flows, a macroeconomic analyst, highlighted the significance of macro liquidity in Bitcoin’s recent price action. The analyst noted that BTC is exhibiting a growing correlation with traditional risk assets, making it vulnerable to capital shifts away from higher-risk investments.
“Broadly speaking right now, the macro liquidity backdrop is neutral. Rates have come down marginally, but the carry trade continues to create risk for assets,” Capital Flows stated. Despite an increase in the Global M2 money supply, the lack of expansion in available liquidity could limit Bitcoin’s upside potential.
Bitcoin’s recent price movements have also been influenced by geopolitical developments, particularly former U.S. President Donald Trump’s announcement of a 25% tariff on imported automobiles, effective April 2025.
The tariffs have rattled global markets, with the S&P 500 dropping 0.33% and the Nasdaq declining by 0.53%. The Kobeissi Letter emphasized that “the trade war is back,” warning that the market reaction to Trump’s tariff policies could extend Bitcoin’s downturn.
The trade war is back:
Markets are expecting Trump's April 2nd reciprocal tariffs day to be the "end of uncertainty."
But, we believe it will be the exact OPPOSITE, which is why tech stocks are down over -$400 billion this week.
Here's what's coming next.
(a thread)
— The Kobeissi Letter (@KobeissiLetter)
4:59 PM • Mar 26, 2025
Crypto analysts remain cautious about Bitcoin’s short-term prospects. Popular trader Crypto Chase described the current setup as a “do or die” moment, stressing the need for BTC to hold above $85,270 to avoid further losses.
Meanwhile, Michael van de Poppe of MN Capital warned of a potential retest of the $78,000-$80,000 range if Bitcoin fails to maintain support at $84,000.
Analyst Daan Crypto Trades suggested that reclaiming $90,000 would be crucial for invalidating the current bearish trend.
As market volatility remains high, traders are closely watching Bitcoin’s ability to hold key support levels while macroeconomic uncertainties continue to shape its trajectory.
Bitcoin (BTCUSD) Analysis:
As of March 28, 2025, Bitcoin (BTC) is trading at $86,159, down 1.55% for the day. The short-term outlook remains weakly positive, with support at $80,000 and resistance at $93,000. In the medium term, BTC is in a downward trend, having met its objective at $80,521, with resistance at $92,500. The long-term trend remains neutral, with key support at $72,000 and resistance at $106,000. A breakout above $93,000 could shift sentiment bullish, while a drop below $80,000 may signal further downside.
Expected Trading Ranges:
Bitcoin (BTC): Support at $80,000; Resistance at $93,000
Market Outlook:
Bitcoin remains in a vulnerable position, with downside risks outweighing bullish momentum in the short term. If macro liquidity remains constrained and risk assets face continued pressure, BTC could retest the $72,000-$75,000 zone. A reclaim of $90,000 would shift sentiment bullish again, but for now, caution prevails.
BTC/ETH ratio has seen an increase:
Over the last six days, the BTC to ETH rate has generally increased, rising from 42.23 ETH on March 24 to 44.22 ETH on March 29, despite some daily fluctuations. The highest point was 44.47 ETH on March 28, while the lowest was on March 24 at 42.23 ETH. Although the last 24 hours saw a 3.04% decline, the overall trend for the past six days shows a gradual increase of approximately 4.7%.
“Bitcoin is one of the only successful leaderless movements of the last century!”
Financial News
Michael Saylor’s Strategy acquired 6,911 BTC for $584 million, pushing its total holdings past 500,000 BTC at an average cost of $66,608 per coin. This latest purchase follows the company’s $711 million stock offering, reinforcing its aggressive Bitcoin accumulation strategy.
Despite global tariff concerns impacting risk assets, Strategy continues to buy the dip, aligning with growing institutional interest in Bitcoin. With ETF inflows rebounding, Strategy remains the largest corporate Bitcoin holder, positioning itself as a dominant player in the digital asset market amid ongoing economic uncertainties.
Japanese investment firm Metaplanet has acquired 150 BTC for $12.6 million, reinforcing its commitment to Bitcoin accumulation. The purchase follows the appointment of Eric Trump to its advisory board, signaling a strategic pivot toward digital assets.
Metaplanet aims to hold 10,000 BTC by year-end, reflecting the increasing institutional interest in Bitcoin as a hedge against traditional markets. This move aligns with a broader trend of corporations and financial firms leveraging Bitcoin for long-term value preservation, further strengthening Bitcoin’s position as a key asset in institutional portfolios.
The Blockchain Group has added 580 BTC to its reserves, bringing total holdings to 620 BTC (€50.5 million). This marks its largest Bitcoin purchase, reinforcing its position as a corporate Bitcoin investor. Since adopting Bitcoin in November 2024, its stock (ALTBG) has surged 256%.
The move coincides with GameStop’s Bitcoin investment and growing institutional adoption. Analysts predict a rally, with Bitcoin potentially reaching $95,000. The Blockchain Group joins firms like Strategy in holding BTC as a treasury asset, while U.S. states advance Bitcoin reserve bills, further solidifying Bitcoin’s role in corporate and governmental financial strategies.
BlackRock’s Global Allocation Fund increased its iShares Bitcoin Trust (IBIT) holdings by 91% to $47.4 million, now holding 821,664 shares. Other BlackRock funds, including BSIIX and MAWIX, have also invested in IBIT.
Institutional demand for Bitcoin ETFs is surging, with major investors like Abu Dhabi’s Mubadala and Wisconsin’s SWIB making sizable allocations. BlackRock further solidified its Bitcoin strategy by launching a European Bitcoin ETP. With growing institutional interest, Bitcoin’s role as a mainstream asset is strengthening, reinforcing its position as a store of value in traditional finance.
Bitcoin could surpass its $109,000 all-time high before Q2 ends, according to Real Vision's Jamie Coutts. He cites easing financial conditions, a weakening U.S. dollar, and increased liquidity from China's central bank as key drivers. Based on historical DXY trends, he predicts BTC could hit $123,000 by June in a best-case scenario.
Despite Bitcoin’s recent 3.16% dip, BlackRock’s Robbie Mitchnick sees a potential recession as a bullish catalyst. However, CryptoQuant’s Bull Score Index signals weak market momentum, raising concerns over short-term upside potential.
Adoption News
GameStop plans to issue $1.3 billion in convertible senior notes maturing in 2030 to acquire Bitcoin, following MicroStrategy’s strategy. This marks a major shift in its corporate treasury approach, leveraging debt to optimize Bitcoin holdings despite having $4.7 billion in cash reserves.
The move positions GameStop alongside firms using Bitcoin as a strategic asset, reinforcing its commitment to digital assets. By following Michael Saylor’s playbook, the retailer aims to capitalize on Bitcoin’s long-term potential while utilizing debt financing to maximize its exposure to the cryptocurrency.
Kentucky Governor Andy Beshear has signed the “Bitcoin Rights” bill into law, securing protections for crypto users, including self-custody rights and mining protections. The bill, which passed both chambers unanimously, prevents discriminatory zoning laws against miners and excludes mining from money transmitter regulations.
Meanwhile, Oklahoma’s Strategic Bitcoin Reserve Act has passed the State House, advancing the state’s plan to allocate reserves into Bitcoin. Arizona leads the state-level Bitcoin reserve race, with Missouri also evaluating similar legislation. These moves highlight increasing state-level adoption and legal recognition of Bitcoin’s role in financial systems.
Arizona has advanced five Bitcoin-related bills, including measures to invest up to 10% of public funds in BTC, accept crypto for taxes, and recognize Bitcoin as legal tender. Lawmakers also pushed forward a bill regulating Bitcoin ATMs to combat fraud.
While none have been enacted yet, all have passed key legislative stages, positioning Arizona as a leader in state-level Bitcoin adoption. With other states exploring similar strategies, this move underscores growing institutional interest in Bitcoin as a financial asset. Final votes and potential governor approval will determine the fate of these groundbreaking proposals.
Tokyo-listed Value Creation has purchased 8.02 BTC for 100 million yen ($670,000), signaling a shift in Japan’s corporate approach to Bitcoin. Following the announcement, its stock surged 67%, reflecting strong investor confidence. The firm now sees Bitcoin as a legitimate financial asset rather than speculation.
Other Japanese companies, including Metaplanet and SBC Medical Group, are also investing heavily, aligning with the global trend of Bitcoin as ‘digital gold.’ Japan’s progressive stance on crypto regulation continues to position it as a leader in Bitcoin adoption.
BlackRock has introduced its first European Bitcoin ETP, iShares Bitcoin ETP (IB1T), available on Xetra, Euronext Paris, and Euronext Amsterdam. The product offers institutional and retail investors regulated Bitcoin exposure, following the success of its U.S. counterpart, IBIT.
With Coinbase handling custody, BlackRock is leveraging Switzerland’s investor-friendly regulations. Analysts believe this launch could significantly boost Europe’s Bitcoin ETP market, which holds $13 billion in assets. As demand for Bitcoin investment products rises, BlackRock’s expansion aims to bridge traditional finance and crypto, potentially reshaping the European market.
Mining News
Bitcoin mining revenue reached $3.7 billion in Q4 2024, up 42% from the previous quarter, and is nearing $3.6 billion in Q1 2025, signaling post-halving stabilization. Miners have adapted by upgrading to energy-efficient ASICs and relocating to regions with lower costs. Some, like Core Scientific, are diversifying into AI data-center hosting.
Sustaining miner incentives will require higher transaction fees, but most Bitcoin activity remains small-value transfers. Despite challenges, Bitcoin’s hashrate hit record highs, indicating strong network security and resilience in the mining sector.
Marathon Digital (MARA) is launching a $2 billion at-the-market stock offering to buy more Bitcoin, continuing its aggressive accumulation strategy. Following a $1.4 billion raise, MARA now holds 46,376 BTC, making it the second-largest publicly traded Bitcoin holder.
The miner is leveraging equity sales to acquire BTC, similar to MicroStrategy, as post-halving rewards tighten mining profitability. Barclays, Cantor Fitzgerald, and others will facilitate the offering. This move reinforces Bitcoin’s growing adoption among institutions while showcasing miners’ evolving strategies to sustain operations and maximize exposure to BTC’s long-term upside.
