This Week in Bitcoin: GameStop Reveals Reserve, But Inflation Fears Rear Their Head

Bitcoin waved up and down – as usual – last week, and although things look up halfway through the week, the well -known inflation – fears helped to sink the price by the time that rolled around on Friday.

The price of the currency was recently at $ 82,480 per coin, according to Coingecko, after a high of almost three weeks of $ 88,474 on Monday. At the moment Bitcoin has now fallen almost 2% a week by almost 2%.

The Bitcoin dip came after the American trade department reported on Friday that the nuclear spending for personal consumption index or PCE in February rose by 0.4% – the largest monthly increase in more than a year.

Traders still hesitate from risk assets such as Bitcoin and shares (which also fell on Friday) while persistent inflation and the trade war of President Trump continues to unleash the markets. Yet it was an interesting week for Bitcoin.

ETF promotion

American Bitcoin ETFs recorded new investment contacts every day from Monday to Thursday, data from Farse Side Investors to show– But finally showed Red on Friday in the midst of the wider shock of the markets.

Nevertheless, the total inflow of the week in De Green ended up with around $ 196.4 million. It may not sound that much, but after massive flow last month, it seems that crypto investors see the current price of Bitcoin see-24% below the all time of January-as a purchase option.

Gamestop Hunger to Oranje Munt

Videoogame Retailer and popular meme Stock Gamestop updated its investment policy on Tuesday to inform investors that “certain cryptocurrencies, including Bitcoin” would add to its balance.

The company then said on Wednesday that it would follow in the footsteps of the strategy (formerly micro strategy) and collect money from investors in the form of guilt to buy it actively. Gamestop wants to pick up $ 1.3 billion to help with the Bitcoin acquisition goal.

Gamestop made the headlines for the first time in 2021 when amateur traders started buying his Moribund shares and pumping his price -leading to the meme sharing phenomenon.

It is now trying to strengthen his books by buying ‘digital gold’. But although the prize of GME shares rose on the first news this week, it has since fallen after the word of the elevation, because Gamestop investors do not seem too enthusiastic about raising money for the trick.

Miners touch Florida

Bitcoiners arrived this week in Fort Lauderdale for the world’s largest mining conference: Disranging Mining.

Engineers from the top production companies and suppliers pushed a story that miners should immerse their toes in the world of AI data centers to increase their playing while the price of BTC is falling and continues to climb the difficulty.

Decrypt Was there to see if it was really that simple, and also learned that small companies are tempted to start the trade in their backyard – but not because of mining BTC: Doge Asics are apparently still hot.

Brazil to buy Bitcoin?

The richest country in the world may love stacking SATs through a strategic reserve – but will the move inspire other nation states?

In short, it looks like this: Brazil, the second largest economy in the America and the largest in Latin -America, it might do that quickly.

Pedro Giocondo Guerra, a Bigwig in the left -wing president Inácio Lula da Silva, said that buying and holding Bitcoin ‘would be in the public interest of the (country)’.

Guerra, Chef of Vice President Geraldo Alckmin, made the comment during a conference ceremony.

Brazil has a huge cryptomarkt-de largest in South America and the Brazilian real one was the worst major currency last year. Politicians can see an opportunity.

Trump -Dideo invalidated

Here is a nice thing to end the week: a clearly documented video from President Trump started to make the rounds on Facebook and Crypto Twitter, which would see the Bitcoin -WhitePaper in the Oval Office.

Of course it wasn’t really – but it has confused a number of Bitcoin supporters. And although Trump recently embraced Bitcoin and Cryptocurrency, he is hardly an old enthusiast, after he was previously a skeptic who called it a “scam” and said he was “not a fan” of Bitcoin.

Published by Andrew Hayward