Bitcoin News Today: Bill Gross says GameStop now trades like Bitcoin not a meme stock

Legendary investor and PIMCO co-founder Bill Gross has noted that GameStop (GME) has transformed from a highly volatile meme stock into an asset that increasingly resembles Bitcoin in its trading behavior. Known as the “Bond King,” Gross previously profited from short positions on GameStop and AMC during the 2021 retail trading frenzy. Now, he argues that GameStop has moved beyond the social media-driven speculation that once defined it and has instead begun to reflect the characteristics of the cryptocurrency market [1].

Gross highlighted that GameStop’s recent price pattern mirrors Bitcoin’s movements. The stock rose in late 2024, dipped in early 2025, and rebounded in May, echoing the cyclical nature of the cryptocurrency. Over the past year, GameStop has traded within a $20 to $35 range, a much more stable performance compared to its dramatic swings between $1 in 2020 and over $121 in early 2021 [2]. The stock hit a 12-month high above $35 in May—just one day before GameStop announced its first Bitcoin purchase. The company’s 4,710 BTC holding is currently valued at around $539 million [3].

Despite the shift in GameStop’s profile, Gross remains cautious about new meme stocks such as American Eagle, which recently gained attention due to a viral ad campaign. He has chosen to avoid these newer speculative assets and instead prefers to monitor the evolving market. Gross also pointed out that retail investors are increasingly focusing on major tech stocks like Microsoft and Meta, driven by optimism around artificial intelligence [4].

The investor’s comments reflect a broader trend of traditional equities increasingly adopting crypto-like characteristics. With companies like GameStop entering the crypto space—by purchasing Bitcoin and possibly considering accepting it as payment—there is a noticeable convergence between digital assets and the stock market. This transition marks a key evolution in how speculative investments are perceived and traded [5].

Source:

[1] Bill Gross: GameStop 'Mimics' Bitcoin, Not Behaving Like a ... (https://www.businessinsider.com/bond-king-bill-gross-gamestop-meme-stock-bitcoin-crypto-options-2025-8)

[2] Billionaire Bill Gross says GameStop now trades more like ... (https://cryptobriefing.com/gamestop-bitcoin-trading-patterns/)

[3] The Bond King Just Called GameStop the New Bitcoin ... (https://www.tradingtips.com/blog/the-bond-king-just-called-gamestop-the-new-bitcoin-and-hes-not-wrong/)

[4] xAI USD (XAI28285-USD) Latest Stock News & Headlines (https://finance.yahoo.com/quote/XAI28285-USD/news/)

[5] Bill Gross made millions betting against GameStop ... (https://www.aol.com/bond-king-bill-gross-made-130057110.html)