{"id":53057,"date":"2025-02-14T03:51:46","date_gmt":"2025-02-14T03:51:46","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=53057"},"modified":"2025-02-14T03:51:46","modified_gmt":"2025-02-14T03:51:46","slug":"gamestop-to-consider-buying-bitcoin-and-follow-microstrategy","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=53057","title":{"rendered":"GameStop to Consider Buying Bitcoin and Follow MicroStrategy"},"content":{"rendered":"

GameStop is considering investing in Bitcoin, and the news already started impacting its stock price. CEO Ryan Cohen recently posted a photo with MicroStrategy\u2019s Michael Saylor, and his firm may serve as a blueprint.<\/strong><\/p>\n

GameStop previously tried to enter the Web3 market with its\u00a0NFT marketplace, but this proved unsuccessful. Bitcoin is completely unrelated to its core business model and may dramatically change the company, but its revenues would keep it afloat.<\/p>\n

Will GameStop Follow MicroStrategy\u2019s Footsteps?<\/h2>\n

GameStop, ostensibly a gaming and electronics retailer, has changed a lot in the last few years. After steadily declining revenues, a\u00a0Reddit-driven stock squeeze\u00a0in 2021 brought about a legendary stock pump. This event\u00a0rejuvenated company leadership, prompting new Web3-oriented business solutions\u00a0like an NFT marketplace.<\/p>\n

However, GameStop\u2019s momentum couldn\u2019t last forever;\u00a0the firm fired CEO Matthew Furlong\u00a0in 2023 and\u00a0shuttered its NFT marketplace the following January.<\/p>\n

Today, however, GameStop is preparing to take a truly radical step: investing in Bitcoin. According to published\u00a0rumors, the firm may invest in it and other cryptoassets soon. The news quickly had a notable impact on its stock price.<\/p>\n

\"GameStop
GameStop Stock After Bitcoin Rumors. Source:\u00a0Google Finance<\/figcaption><\/figure>\n

The price of Bitcoin\u00a0has been extremely bullish in recent months, but that doesn\u2019t fully explain GameStop\u2019s decision. Despite the recent liquidations triggered by Trump\u2019s geopolitical decisions,\u00a0Bitcoin is starting to stabilize.<\/p>\n

Given BTC is still below $100,000 and analysts predict much higher prices by the end of the year, it would be an optimal time for GameStop to add Bitcoin to its portfolio. The decision seems to be somewhat\u00a0inspired\u00a0by MicroStrategy\u2019s Michael Saylor.<\/p>\n

Before buying Bitcoin, MicroStrategy was in a very similar position to GameStop. Saylor saw revenues from its traditional business model drying up and made a dramatic gamble on BTC.<\/p>\n

This\u00a0bet has paid off extraordinarily well, and Saylor recently\u00a0rebranded the company to prominently feature the Bitcoin logo.<\/p>\n

\n

\u201cGameStop, a company with no viable business plan, has thrown another Hail Mary by announcing that it might use its cash to\u00a0buy Bitcoin. The irony is that Bitcoin is even more overpriced than GME. No matter; speculators are buying the stock anyway, hoping it becomes another MSTR,\u201d wrote anti-crypto advocate Peter Schiff.<\/p>\n<\/blockquote>\n

In other words, Saylor\u2019s Bitcoin rebrand could serve as a blueprint for GameStop. The company tried to adapt to meet Web3 market opportunities when it entered the NFT market, but this wasn\u2019t enough. Many of its NFTs were gaming-themed, and this proved a niche market. Bitcoin, however, has nothing to do with its old business model.<\/p>\n

Committing to a Bitcoin-first strategy could completely change GameStop\u2019s revenue model. MicroStrategy was totally transformed by its pivot to BTC. Even Tesla, one of the world\u2019s largest tech firms, has noticeably changed due to its crypto purchases.<\/p>\n

However, no further updates regarding any accumulation plans have been revealed yet.<\/p>\n

\u00a0<\/h2>\n

Bearish pressures: ETF outflows and retail capitulation<\/h2>\n

While historical price patterns indicate a bullish setup,\u00a0ETF\u00a0outflows and declining retail participation remain key\u00a0bearish\u00a0factors.<\/p>\n

On February 12, Bitcoin ETFs saw over $251 million in net outflows, marking the third consecutive day of negative flows and bringing the total to $494 million,\u00a0according\u00a0to\u00a0Farside Investors<\/em>\u00a0data.<\/p>\n

Meanwhile, on-chain metrics suggest growing retail capitulation.\u00a0Data\u00a0from\u00a0Santiment\u00a0<\/em>reveals that the total number of non-empty Bitcoin wallets has dropped to 54.44 million, its lowest level since December 10.<\/p>\n

This marks a loss of 277,240 wallets in just three weeks, a sign that small traders are exiting the market out of fear of further downside.<\/p>\n

Macroeconomic pressures could delay a breakout<\/h3>\n

Beyond\u00a0technical indicators,\u00a0macroeconomic concerns continue to cast a shadow over Bitcoin\u2019s short-term price action.<\/p>\n

The latest Producer Price Index (PPI) figures,\u00a0released\u00a0on February 13, came in higher than expected at 0.4% month-on-month and 3.5% year-on-year, respectively.\u00a0<\/p>\n

The data further dims hopes for near-term Federal Reserve rate cuts, keeping pressure on risk assets, including Bitcoin, though BTC saw a brief uptick following the release.<\/p>\n

According to the\u00a0CME Group\u2019s FedWatch Tool,<\/em>\u00a0traders now see just a 2.5% chance of a 0.25% rate cut at the Fed\u2019s March meeting. The hawkish stance has fueled investor caution, adding uncertainty to\u00a0Bitcoin\u2019s near-term trajectory.<\/p>\n

Bitcoin key levels to watch\u00a0<\/h2>\n

As Bitcoin hovers near crucial price levels, market watchers are eyeing key resistance and support zones.<\/p>\n

According\u00a0to crypto analyst\u00a0Ali Martinez,<\/em>\u00a0Bitcoin\u2019s most important\u00a0resistance\u00a0level currently stands at $97,530. A decisive break above this level could signal renewed bullish momentum, supporting Bitcoin\u2019s attempt to reclaim higher highs.<\/p>\n

However, on the downside,\u00a0support\u00a0below $92,110 appears weak, with a notable gap between $90,000 and $70,000. This suggests that if BTC loses the $92,110 level, it could experience heightened volatility, potentially leading to a sharper correction.<\/p>\n

As Bitcoin hovers around key technical zones, traders remain cautious, balancing\u00a0bullish cycle expectations\u00a0with macroeconomic uncertainties that could prolong the consolidation phase.<\/p>\n

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GameStop is considering investing in Bitcoin, and the news already started impacting its stock price. CEO Ryan Cohen recently posted a photo with MicroStrategy\u2019s Michael Saylor, and his firm may serve as a blueprint. 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