Bitcoin Surges 10% on Trump Trade Tariff Speculation, GameStop Hints at Bitcoin Initiative

Bitcoin has experienced a significant surge over the past week, driven by speculation that U.S. President Donald Trump might be reconsidering his stance on global trade tariffs. This shift in sentiment has led to a 10% increase in the bitcoin price since its early March lows, although it remains below its January peak of nearly $110,000 per bitcoin. The recent rally has been fueled by a White House official's revelation that Trump could potentially boost the bitcoin price.

Adding to the optimism, a BlackRock executive has predicted that a "big catalyst" for bitcoin could be on the horizon. Traders are now anticipating that GameStop, a popular meme stock, might announce a bitcoin-related initiative when it reports its fourth-quarter results. This potential move could mirror the strategy adopted by Michael Saylor's company, Strategy, which has aggressively acquired bitcoin.

Last month, GameStop received a proposal from Strive Asset Management suggesting that the company convert its $5 billion in cash reserves into bitcoin. This transformation, if implemented, would position GameStop as a leading bitcoin treasury company in the gaming sector. Strive Asset Management's chief executive, Matt Cole, emphasized to GameStop CEO Ryan Cohen that this represents an "incredible opportunity." Cohen acknowledged the proposal, posting "Letter received" on social media. This comes just weeks after Cohen shared a photo with Michael Saylor, the founder of Strategy, further fueling speculation about a potential bitcoin-related announcement from GameStop.

Strategy, formerly known as MicroStrategy, has amassed around 500,000 bitcoin, valued at approximately $42 billion, since it began its aggressive bitcoin acquisition strategy in 2020. Saylor, who attended a White House digital asset summit hosted by Trump, recently predicted a "Cambrian explosion" of companies and countries adopting bitcoin. This prediction aligns with the growing interest and investment in bitcoin, as more entities recognize its potential as a store of value and a hedge against inflation.