Gamestop (GME) adds Bitcoin as a reserve

[Darker45]

But I wonder why the price doesn’t react anymore. Is Bitcoin kind of oversold now? After MicroStrategy, now rebranded into Strategy, adopted the Bitcoin standard in their corporate system, a number of companies have followed.

Metaplanet and other companies have also purchased Bitcoin repeatedly, but the price doesn’t seem to care anymore. Even the purchases of Strategy doesn’t seem to influence the price anymore. Now, there’s the addition of Gamestop, no reaction either. Or is there a whale consistently disposing his/her huge Bitcoin holdings?

[fuguebtc]

But I wonder why the price doesn’t react anymore. Is Bitcoin kind of oversold now? After MicroStrategy, now rebranded into Strategy, adopted the Bitcoin standard in their corporate system, a number of companies have followed.

Metaplanet and other companies have also purchased Bitcoin repeatedly, but the price doesn’t seem to care anymore. Even the purchases of Strategy doesn’t seem to influence the price anymore. Now, there’s the addition of Gamestop, no reaction either. Or is there a whale consistently disposing his/her huge Bitcoin holdings?

If there is no market manipulation and Bitcoin does not react to this positive news in a natural way, that would be a good thing. Because if in the future there is news that organizations are selling bitcoins en masse to the market, bitcoin will not react negatively and be dumped. But I suspect bitcoin is being manipulated more than it is maturing.

Furthermore, this is not the only news that is impacting the markets, news of Trump's new tariff war continues to disrupt financial markets. So it is no surprise that negativity is overwhelming and pervasive in the markets.

[Don Pedro Dinero]

But I wonder why the price doesn’t react anymore. Is Bitcoin kind of oversold now? After MicroStrategy, now rebranded into Strategy, adopted the Bitcoin standard in their corporate system, a number of companies have followed.

Metaplanet and other companies have also purchased Bitcoin repeatedly, but the price doesn’t seem to care anymore. Even the purchases of Strategy doesn’t seem to influence the price anymore. Now, there’s the addition of Gamestop, no reaction either. Or is there a whale consistently disposing his/her huge Bitcoin holdings?

That's just because there are still enough people buying and selling depending on their reactions to the market. Just think that Strategy now has over half a million bitcoins that is not going to sell, with all the companies getting on board, and if states start joining in as well, there’s going to come a point where a supply shock happens, and then you’ll see candles shooting up by tens of thousands in no time.

[Z-tight]

For some reason it leaves a bad taste in my mouth--probably because IMO it goes against what bitcoin was created for, i.e., money for the people and not some ploy to keep a dying video game retailer relevant and solvent.

It is actually money that is censorship resistant and out of anyone's control, rather than money for the 'people', so we cannot control who's going to use BTC. I don't think that anyone or institutions investing in BTC goes against what BTC is created for, it is money that can be adopted by anyone, so if Satoshi created it that way, they knew that anyone, including institutions could adopt it, and that is what is happening.

[Apocollapse]

It seems to me like, whenever there's a company who issued stock and they bought Bitcoin, their stock price are pumping.

I don't see any reason why other companies aren't trying to buy Bitcoin even in small portion, they don't have to make money from Bitcoin, but if they get spotlight from news, they might become popular... in a day.

[avikz]

Not sure what's so exciting about it! I wish corporates and governments never invest in Bitcoin. They can make their own shit and invest on those. Having too many corporate into bitcoin market is not good for the market. I do not see any benefit apart from some liquidity inflow.

These corporates have so much money at their disposal, they can buy huge chunks of Bitcoins and put themselves in a position where they can control the market. Not ideal and not great news!

On the contrary, this is excellent news, the more demand the better. Maybe you prefer this to be pure P2P and the price per bitcoin to be like $80.

I am sure we are allowed to have difference in opinions.

I am always against the government and corporate money into the crypto market. Because they are sitting on so much cash, they can easily become a whale in the market and can start manipulating it at their will.

Where were those companies 10 years back? We, the commoners and believers were there. The market flourished with us. Now everyone is jumping to get their share of pie! You may find it exciting, but I am not!

[Don Pedro Dinero]

I am sure we are allowed to have difference in opinions.

I am always against the government and corporate money into the crypto market. Because they are sitting on so much cash, they can easily become a whale in the market and can start manipulating it at their will.

Where were those companies 10 years back? We, the commoners and believers were there. The market flourished with us. Now everyone is jumping to get their share of pie! You may find it exciting, but I am not!

Yes, for sure we are allowed to have different opinions, especially on this forum.

Considering that you registered on the forum in December 2015 and that Coinbase was launched in June 2012, it seems to me that you are taking more credit than you deserve.

As I see it, the most evil are the ones who have driven the bitcoin price up the most, so you can't have your cake and eat it too. If you like the price to go up, it is accompanied by CEX, custodial wallets, companies buying bitcoin en masse, Trump backing bitcoin, etc. Without all this bitcoin would be a thing of 4 cyberpunks and ancaps and a few who would use it to buy drugs on the deep web.

[Accardo]

I don't see any reason why other companies aren't trying to buy Bitcoin even in small portion, they don't have to make money from Bitcoin, but if they get spotlight from news, they might become popular... in a day.

Passed customers who are in cryptocurrency get to remember them so well, as soon as, the company proposes to purchase Bitcoin. The market has the clout and many businesses like Microstrategy turn it to their advantage. Saylor welcomed GME with big arms, drawing some audience to his side. If the trend interests other companies, it'll bring great growth to Bitcoin. These companies are trying to help investors feel secure by indirectly buying bitcoin through convertible notes.

[OgNasty]

It seems to me like, whenever there's a company who issued stock and they bought Bitcoin, their stock price are pumping.

I don't see any reason why other companies aren't trying to buy Bitcoin even in small portion, they don't have to make money from Bitcoin, but if they get spotlight from news, they might become popular... in a day.

I think a lot of them see Bitcoin as a grift.  The fact that Michael Saylor got behind it isn't necessarily a good thing for S&P500 adoption.  The guy did make his fortune by squatting domain names.  Now he's squatting Bitcoin and I'm sure there are people in big business that would rather see him fail than gain a few extra points on their investment portfolio.  I would say that if it wasn't for Saylor stacking so many BTC, we'd already have other companies stacking it for their own treasuries.  At this point though, adopting BTC makes Saylor insanely rich, and I'm certain that is something discussed in board rooms.

[yhiaali3]

This may be good news for GME investors, but caution is advised because such news is used to manipulate the market. Stocks may rise briefly, then whales start selling, and small investors start taking losses. Therefore, I don't see it as a successful long-term investment.

The company's stock will react to Bitcoin prices, investors who don't convert their notes at a terrible market price will suffer loss. However if the company performs well with the strategy investors will earn alot from shares. As of yesterday, an x user uploaded what looked like GME stock right now.

Yes, that's exactly what I expected. It's very clear, as it's usually expected that the stock price will rise briefly when such news spreads, then fall again, and that's what happened.

This is an opportunity for the whales to manipulate. They exploit the news and promote it widely. When the price starts to rise, they sell, and prices begin to fall. The lucky ones are those who benefit from the initial price rise and reap their immediate profits.

[moneystery]

more companies see how potential bitcoin is to be used as an investment for their company. these companies have begun to see that bitcoin is no longer a trivial asset, but it has become a high-value asset and is suitable to be part of the company's investment diversification.

and especially in recent times the development of regulations has appeared more solid in several countries, and this makes companies more confident in making their investments in bitcoin because they believe that with better regulations, the value of bitcoin can increase.

[kotajikikox]

Not sure what's so exciting about it! I wish corporates and governments never invest in Bitcoin. They can make their own shit and invest on those.

They will never just make their own coin because there is no guarantee of profit there but in bitcoin there is. Simple as that. How will they invest in a project that’s not profitable in the first place? They need bitcoin.

These corporates have so much money at their disposal, they can buy huge chunks of Bitcoins and put themselves in a position where they can control the market. Not ideal and not great news!

We know that this started with microstrategy being one of the first companies to invest in bitcoin and until now it continues to buy more. Other companies must have seen the effect of bitcoin and copied them. Not only companies but countries are getting interested in bitcoin.

[tread93]

https://finance.yahoo.com/news/gamestop-stock-pops-after-company-confirms-plans-to-buy-bitcoin-204454374.html

Great news for those stuck bagholding GME. This will make the stock exciting again and im sure that all the shorts are going to be scared when they understand this play and look at how powerful it could be for the ticker when you look at MSTR.

They options play on this will become interesting in the following months. If there is a BTC bullrun to 150k+ then all the GME shorts are going to be covering and a potential gamma squeeze is at play which means the price may run up in a slingshot fashion. It is going to be also interesting to see how they try to stop trading this time considering that they cannot stop BTC trading and the stock will be powered by it now.

This is indeed incredible news and I am excited to see how the market reacts to this. Can't wait to see thay mad kitty or whatever the heck his name in weight in on this one and he may have already I just haven't been paying much attention to is right now. I used to own one GME stock for fun hehe maybe I should snag a few up again just to shake things up!

[Marvell1]

The company's stock will react to Bitcoin prices, investors who don't convert their notes at a terrible market price will suffer loss. However if the company performs well with the strategy investors will earn alot from shares. As of yesterday, an x user uploaded what looked like GME stock right now.

Yes, that's exactly what I expected. It's very clear, as it's usually expected that the stock price will rise briefly when such news spreads, then fall again, and that's what happened.

This is an opportunity for the whales to manipulate. They exploit the news and promote it widely. When the price starts to rise, they sell, and prices begin to fall. The lucky ones are those who benefit from the initial price rise and reap their immediate profits.

As you predicted and it happened, after the news was released, GME stock went up 10% but just a few hours later, GME fell more than 25%. This is clearly stock market manipulation and many people must have lost money.

People often say that crypto is a risky, volatile and manipulated market but with what is happening with GME, it is nothing more than a shitcoin  .


https://x.com/KobeissiLetter/status/1905314330507170288

However, this is not new and it has also happened with MSTR. After a period of continuously reaching ATH levels, MSTR has also decreased significantly compared to the ATH level.

[takuma sato]

Not sure what's so exciting about it! I wish corporates and governments never invest in Bitcoin. They can make their own shit and invest on those. Having too many corporate into bitcoin market is not good for the market. I do not see any benefit apart from some liquidity inflow.

These corporates have so much money at their disposal, they can buy huge chunks of Bitcoins and put themselves in a position where they can control the market. Not ideal and not great news!

GME is not that big a business, we are looking at a $12.6B marketcap, which is quite impressive for a retail shop that sells videogames, but it's not some juggernaut. In any case, why is this bad? They are betting that Bitcoin will go up in price. Please explain how that doesn't mean they are on our team as BTC investors. They are basically BTC investors themselves from now on, but instead of being an individual, they are a business that uses their cash reserves to buy BTC because their cash reserves are there doing nothing, and best case scenario they are stuck in some short term t-bill instruments that don't even beat inflation, specially now that they will be lowering rates, so they are just getting ready and getting their BTC reserves before ZIRP kicks in and you are losing 3% yearly on your cash if not more (that is just assuming average inflation stays the same during ZIRP which is debatable). I think in the long term all businesses that exchange their cash reserves for BTC will be proven right as the rest are just bagholding massive amounts of cash doing nothing.

[fruktik]

But I wonder why the price doesn’t react anymore. Is Bitcoin kind of oversold now? After MicroStrategy, now rebranded into Strategy, adopted the Bitcoin standard in their corporate system, a number of companies have followed.

Metaplanet and other companies have also purchased Bitcoin repeatedly, but the price doesn’t seem to care anymore. Even the purchases of Strategy doesn’t seem to influence the price anymore. Now, there’s the addition of Gamestop, no reaction either. Or is there a whale consistently disposing his/her huge Bitcoin holdings?

Why doesn't the price react to such events? And why did you decide that these companies should influence the market if they just keep their bitcoins in wallets? There are quite a lot of large players who bought coins several years ago and the time has come to sell some of them for profit. Everything is quite logical, isn't it? That's why we are seeing such a picture.

I am sticking to my scenario, in which the price will fall even lower within a few months. Most likely, it will reach the level of 50 thousand dollars, and only from there will the trend change to an upward one and conquer new heights.

[fikrett]

Why doesn't the price react to such events? And why did you decide that these companies should influence the market if they just keep their bitcoins in wallets? There are quite a lot of large players who bought coins several years ago and the time has come to sell some of them for profit. Everything is quite logical, isn't it? That's why we are seeing such a picture.

I am sticking to my scenario, in which the price will fall even lower within a few months. Most likely, it will reach the level of 50 thousand dollars, and only from there will the trend change to an upward one and conquer new heights.

I do think your case would be more like it - confidence is still not there for BTC to push forward, so it may be it will be dragged to all places before we would see a new ATH.

[coolcoinz]

However, this is not new and it has also happened with MSTR. After a period of continuously reaching ATH levels, MSTR has also decreased significantly compared to the ATH level.

It happened to most stocks. Check out the price of Tesla, Nvidia, Meta, Apple and many others.

IMO the stock manipulation is a thing, but it's happening on a much larger scale. It's not Gamestop that's doing it or Strategy, or any other company on its own. The whole Nasdaq is dumping ant the main culprit is the FED. This is the biggest manipulator - the institution that calls itself a federal reserve, but is neither of these things.

I am sticking to my scenario, in which the price will fall even lower within a few months. Most likely, it will reach the level of 50 thousand dollars, and only from there will the trend change to an upward one and conquer new heights.

I hope you realize that this is a bear market scenario. BTC has never done that in the past. You're saying it would dumps 60% and then reach ATH.
The way I see it if it goes down 60% we're going to in a bear market, not because BTC is weak or anything, but because traders will see that as a bear market and react accordingly.

Also, if BTC goes down 60% that will probably liquidate most large holders including Microstrategy and cause a black swan event where we'll easily could go back to $30k.

In other words, you're trying to be bearish and bullish at the same time, not knowing that if you balance on the edge and move to far in one direction you're going to be in free fall. There are limits to where a bull market can extend.

[takuma sato]

But I wonder why the price doesn’t react anymore. Is Bitcoin kind of oversold now? After MicroStrategy, now rebranded into Strategy, adopted the Bitcoin standard in their corporate system, a number of companies have followed.

Metaplanet and other companies have also purchased Bitcoin repeatedly, but the price doesn’t seem to care anymore. Even the purchases of Strategy doesn’t seem to influence the price anymore. Now, there’s the addition of Gamestop, no reaction either. Or is there a whale consistently disposing his/her huge Bitcoin holdings?

Why doesn't the price react to such events? And why did you decide that these companies should influence the market if they just keep their bitcoins in wallets? There are quite a lot of large players who bought coins several years ago and the time has come to sell some of them for profit. Everything is quite logical, isn't it? That's why we are seeing such a picture.

I am sticking to my scenario, in which the price will fall even lower within a few months. Most likely, it will reach the level of 50 thousand dollars, and only from there will the trend change to an upward one and conquer new heights.

GME did just not go and buy BTC with their cash reserves, they have saved their cash reserves of 1.4$bn and instead of they are issuing convertible bonds. When they issue this, market makers want a cheaper price to get better deals on the bonds, so they short the stock, then they buy the stock. It doesn't help that Trump is crashing everything under the sun again with the tariff talk that is scaring everyone away from risk-on assets, so if BTC dumps, then you can expect GME to dump even more, before they started buying and now as well since their price will be more correlated to BTC even if they don't own any yet, simply because of perception and future expectations. This is a play for a bull market, it will eventually work, but for now just buy cheaper as macro is wrecked by Trump.

[Faisal2202]

It was a good decision for Gamestop to invest some of their cash holdings in bitcoin. They may not be the first company to do something like this, but when a company is open to investing their money in bitcoin, the market response tends to be positive, and that can be seen from their stock price which has increased by almost 15%.

Hopefully their plan to invest in bitcoin is not just temporary, but a long-term plan.

Most of the times when such projects invest in BTC they plan to hold it for long term and this also shows that the project is in the market for long term too, as there are projects which we see we quickly realize they are not going to be here much longer but when they have investments in BTC they plan to be there for longer period of time shows logevity and thus build trust among investors and more investment means bigger ecosystem and more marketcap and more listings and more adoption.

More adoption means more demand and if the tokenomics are also good of such projects, then the price will just shoots up.