Gamestop Approves Bitcoin for Treasury
Gamestop who currently holds 4.7 billion in cash announced to investors that its updated its investment policy has been made and approved Bitcoin as a Treasury Reserve Asset. The Board of Gamestop unanimously voted and approved the inclusion of Bitcoin. The only question now is how much will they buy and how fast. Investors seem to be very supportive of the idea as it's stock rose 6% after hours. The CEO of Gamestop Cohen and Saylor have been seen together and Cohen seems to be taking a similar approach with Gamestop as Strategy has over these last few years.
Crypto.com to Partner with Truth Social
Today Crypto.com who has more than 140 million users worldwide announced that is partnering with Truth Social to launch 3 new ETFs. The 3 ETFs will include BTC, BTC/ETH, and a ETF basket of crypto holding BTC,ETH,SOL, CRO, and XRP. The plan is to launch these ETFs later this year mainly consisting of digital assets with a "Made in America" focus. The ETfs are expected to be available internationally.
Quick Hits
- Strategy lead by Michael Saylor buys another 584 million in BTC taking the total holding over 500,000 BTC.
- Hong Kong ETF issuer stated China is exploring reversing its stance on Bitcoin and crypto.
- State of Kentucky signed into law new bill that guarantees right to hold crypto keys and run a Bitcoin node.
- Blackrock is launched a Bitcoin exchange traded product (ETP) in Europe today, its US ETF dominates the US market with $50 billion in assets.
- Saylor who personally holds 1.5 Billion in Bitcoin confirmed that he will burn the keys to his Bitcoin, stating "That's My Legacy".
