GameStop Acquires 4,710 Bitcoin, Shifts Corporate Strategy

's latest price was $, in the last 24 hours. GameStop has made a significant move by acquiring 4,710 Bitcoin, marking a strategic shift in its corporate strategy. This acquisition is part of a broader plan to establish a corporate Bitcoin treasury, following a $1.5 billion convertible notes offering. CEO Ryan Cohen highlighted the importance of Bitcoin as a safeguard against currency devaluation and systemic risks, positioning GameStop alongside other industry leaders like Tesla and major crypto mining firms.

This move by GameStop signals a growing trend in the corporate world, where companies are increasingly looking to cryptocurrencies as a means to hedge against market volatility and currency devaluation. The acquisition of Bitcoin by GameStop is a clear indication of the company's confidence in the long-term value of cryptocurrencies and its willingness to adapt to the changing financial landscape.

GameStop’s entry into Bitcoin has reshaped its corporate landscape and introduced potential volatility among meme stocks. This scenario reflects broader market dynamics, with investors adapting to shifting tides in both traditional and crypto markets. The company's decision to acquire Bitcoin is a bold move that could have far-reaching implications for the gaming industry and the broader crypto market.

George Tung, founder of the crypto-focused platform CryptosRUs and a recognized analyst in the Bitcoin space, has recently voiced his expectations for XRP’s future performance. Speaking with Altcoin Daily, Tung stated that XRP could realistically rise to a price between $8 and $10 by the end of 2025. This prediction, which he described as a conservative estimate, is based on the digital asset’s market durability and the increasing involvement of institutional investors.

Tung’s outlook hinges on the belief that XRP is well-positioned to benefit from a broader trend of increased institutional engagement with digital assets. During the interview, he said that recent filings for XRP-focused exchange-traded funds (ETFs) could be a catalyst for significant growth. According to him, if any of these products receive approval, they could channel considerable capital into XRP, thereby placing upward pressure on the token’s price. XRP has won the trust of many institutions, and these products could cement its status as highly attractive to institutions.

Tung believes that XRP can outperform other leading cryptocurrencies. He expects XRP to deliver up to 5x its current value under favorable market conditions. This suggests a target range of $8.76 to $10.95 based on the asset’s current price. Tung also noted that established assets, such as XRP, will benefit from improved market sentiment and a return of capital to altcoins. His broader forecast for the cycle includes a Bitcoin peak between $200,000 and $300,000. In early 2024, veteran trader Peter Brandt predicted that BTC could hit $200,000 by Q3 of 2025, and this move would set a strong backdrop for gains across the market.

Tung also warned retail investors against chasing extreme short-term gains, noting that meme coin success is rare despite notable surges of meme coins like PEPE. He urged a disciplined strategy and focus on credible projects with long-term utility. Even former skeptics like Davinci Jeremie now see potential in XRP, with Jeremie suggesting it could hit $24 this year, and Tung advised beginners to allocate most of their funds to fundamentally strong projects.