Shares of GameStop surged nearly 12% on March 26 after the retailer announced it would allocate proceeds from a $1.3 billion convertible notes offering toward Bitcoin investments.

The company’s revised investment policy now permits a portion of its corporate treasury and future borrowings to be invested directly into Bitcoin and stablecoins.

Despite declining net sales, GameStop holds significant liquidity, reporting cash reserves of $4.77 billion as of February.

This strategic pivot aligns closely with previous Bitcoin adoption moves by firms such as MicroStrategy and Metaplanet, both of which have seen notable stock appreciation after similar announcements.

GameStop’s Bitcoin investment further validates the cryptocurrency’s growing appeal among corporate treasuries, potentially attracting broader institutional participation and strengthening Bitcoin’s market position.

MicroStrategy’s Growing Bitcoin Ambitions

MicroStrategy, now operating as Strategy, could accumulate more than one million Bitcoin by 2033—equating to nearly 5% of Bitcoin’s total supply—according to analysts at Bernstein. Currently, the firm owns approximately 506,137 Bitcoin, purchased at an average cost of $66,608.

Bernstein recently initiated coverage on Strategy’s stock (MSTR) with an “outperform” rating, projecting a 75% potential upside to a target price of $600. Bernstein forecasts Bitcoin reaching $200,000 by 2025 and possibly $1 million by 2033, driven by supportive monetary policies and strong capital markets.

Under bullish market conditions, Strategy’s holdings could reach 5.8% of Bitcoin’s circulating supply.

Strategy’s continued Bitcoin accumulation underscores institutional confidence in Bitcoin as a treasury reserve asset. Nonetheless, short-term volatility persists, with Bitcoin recently trading around $86,982, down 1.33% in the past 24 hours.

U.S. Government Accelerates Digital Payment Transition

President Donald Trump mandated a complete transition to digital federal payments by September 30, 2025, aiming to eliminate paper-based transactions. The administration expects annual taxpayer savings of approximately $657 million through reduced fraud and administrative costs.

The executive order emphasizes electronic fund transfer (EFT) methods, including digital wallets, direct deposits, and debit cards, explicitly ruling out the adoption of a central bank digital currency (CBDC). Trump’s administration maintains a clear stance against government-controlled digital currencies.

This move toward digital payments may indirectly support increased Bitcoin adoption, as users shift toward decentralized digital assets rather than centralized digital currencies.

Bitcoin Price Technical Outlook

Bitcoin (BTC/USD) is consolidating near $87,220 within a symmetrical triangle formation on the 2-hour chart. Price action maintains key support at $86,800, reinforced by the 50-period EMA.

Immediate resistance at $88,800 limits upside momentum, and a confirmed breakout above this level could target $90,750 and $92,800.

On the downside, critical support levels remain at $86,400 and $84,870, with a sustained move below these zones potentially opening the door to $83,200.

The Relative Strength Index (RSI) remains neutral at 51, signaling balanced market sentiment. Traders should monitor volume closely to confirm the next major directional move.

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The post Will This Trigger the Next BTC Rally? Gamestop Just Raised $1.3B to Stack Bitcoin appeared first on Cryptonews.

US House Republicans are standing against any TikTok deal that would allow Chinese owner ByteDance to maintain a stake in the app.

TikTok faces a forced sale or a nationwide ban if a deal is not finalized by the April 5 deadline. President Donald Trump appears open to a deal that leaves some involvement for the Chinese company. 

Lawmakers such as Michigan Republican John Moolenaar have warned that any arrangement giving ByteDance continued control is a grave threat to US security and a violation of American law.

At a TikTok Coalition event on Thursday, Moolenaar said, “Any deal that allows ByteDance to maintain control of TikTok is a grave threat to our security and a violation of US law. If ByteDance stays involved in any way, the deal is illegal – plain and simple.” 

Recent reports indicate that a prospective deal would allow ByteDance to retain a stake in TikTok. Under the proposal, data collection and software updates would be overseen by Oracle. 

The move is part of talks led by the White House, centered on a “qualified divestiture.”

The law mandates that a foreign adversary must no longer control the app, defined as holding a stake of 20 percent or more, while leaving room for the president to set the terms.

President Trump is eager to “save” the app and would go to extra lengths. He has not clearly stated whether he would support ByteDance having a partial role in TikTok.

On Wednesday, he said he might lower tariffs on China to secure Beijing’s support and would consider extending the April 5 deadline if no agreement is reached. 

The law originally set the deadline as January 19 with a one-time 90-day extension for progress, and Trump had extended it on his first day in office after a call with Chinese President Xi Jinping.

The forced sale law, passed last year as part of a foreign aid package, was enacted amid concerns that TikTok’s Chinese ownership might allow Beijing to conduct influence operations against the United States. 

While the law mandates a divestiture, free speech advocates warn that a ban would restrict Americans’ access to foreign media. It would violate the First Amendment. The Supreme Court upheld the law in January, maintaining pressure on TikTok to separate from its Chinese owner.

Senator Ed Markey of Massachusetts stated that the US intelligence community had “no information” that ByteDance manipulated TikTok content to favor the Chinese government. 

On Monday, Markey, along with Senators Cory Booker and Chris Van Hollen, sent a letter urging Trump to work with Congress on a legal basis for any extension. Earlier this year, they and Representative Ro Khanna of California introduced a bill to extend the original January 19 deadline by 270 days.

Some Republicans want pure TikTok divestiture

Florida Republican Representative Kat Cammack called for “an absolute pure divestiture” on Thursday.

Senator Tom Cotton of Arkansas, known as one of the strongest supporters, has yet to firmly take a stand on the need for complete divestiture, with reports indicating he is allowing the White House to handle the negotiations.

When asked about President Trump’s recent remarks, Guo Jiakun, spokesperson for China’s foreign ministry, said Beijing has stated its position on TikTok on multiple occasions. He added that China’s opposition to extra tariffs is “consistent and clear.”

In January, China’s foreign ministry also expressed openness to a TikTok deal, noting that acquisitions should be “decided independently by companies” according to the law. Some reports have suggested that TikTok’s algorithm may be subject to export controls by China’s commerce ministry.

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