GameStop (GME) stock soared 16% on Wednesday following its announcement to purchase Bitcoin (BTC) and stablecoins as part of its balance sheet strategy, setting off a wave of speculation across financial and crypto communities.Key Highlights:GameStop plans to allocate a portion of its $4.8 billion cash reserves to Bitcoin and USD-denominated stablecoins.The company has not disclosed how much Bitcoin it plans to buy or when the purchases will begin.CEO Ryan Cohen and Strive Asset Management’s Matt Cole had hinted at the pivot weeks earlier.GME Shares Rally on Bitcoin BetThe gaming retailer revealed the crypto play during its Q4 earnings call on Tuesday, sparking a 16% spike in GME shares by Wednesday morning. The news came as a surprise given the company's silence on details, but the announcement alone was enough to ignite a frenzy of speculation across X (formerly Twitter).Crypto bull Anthony Pompliano suggested the move won't be minor, noting that such a decision would require substantial board-level approval. "You don’t go through all that effort just to allocate 1%," Pompliano said, adding that Chairman Ryan Cohen’s online behavior signals “hardcore Bitcoiner” tendencies.How Much Bitcoin Could GameStop Buy?While exact numbers weren’t released, Michael Saylor, whose company Strategy (MSTR) has amassed over 500,000 BTC, ran a poll on X asking how much Bitcoin GameStop should hold to earn respect from Bitcoiners. The top response? At least $3 billion in BTC.Industry watchers speculated that GameStop’s war chest — boosted through creative fundraising efforts like debt issuance — positions the company to take a meaningful stake in Bitcoin, though it’s unlikely to match Strategy’s aggressive accumulation strategy just yet.Market Reactions: Bullish, But CautiousDespite no actual Bitcoin purchases being confirmed, GameStop’s announcement alone pushed stock prices higher. Former bond trader Josh Mandell quipped on X, “I will not ask anyone to make it make sense,” referencing the disconnect between asset ownership and price reaction.Still, if executed strategically, the move could rebrand GameStop as a Bitcoin-forward company, joining a growing list of public firms integrating digital assets into corporate treasuries.What This Means for Bitcoin & MarketsGameStop’s crypto pivot adds a new layer of mainstream credibility to Bitcoin adoption at the enterprise level, particularly as macro uncertainties and inflation concerns linger. The move may also influence other cash-heavy firms considering Bitcoin as a hedge or strategic asset.With Bitcoin nearing $87,000, institutional moves like this could further validate BTC’s position as a long-term reserve asset — potentially pushing prices higher in the coming months, according to CoinDesk.
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