GameStop is Buying Bitcoin (and Something Else)

About six weeks ago I wrote to you about the possibility of GameStop (NASDAQ:GME) buying Bitcoin. Six weeks later...

Author

Adam Atlantic
March 26, 2025 • Estimated Reading Time: 5 minutes

About six weeks ago I wrote to you about the possibility of GameStop (NASDAQ:GME) buying Bitcoin.

‘Word on the street (or rather, on Reddit and X.com) is that GameStop might follow the lead of companies like MicroStrategy, Semler Scientific, and as I highlighted yesterday, Metaplanet, by adding Bitcoin to its balance sheet.

Ultimately though, even if GameStop doesn’t adopt it now, I say they will in the not-too-distant future. And while it’s said Saylor and Cohen aren’t necessarily working on this together, you can’t tell me they didn’t at least float the idea when they met?’

Prophetic words…

Six weeks later…

Source: GameStop via X.com[1]

Now you might think that GameStop buying Bitcoin is the big news here. But it’s not.

In GameStop’s SEC filing they mentioned something, that no one seems to be talking about that’s even bigger and more important to the company, and to the U.S. economy.

What Did They Say?

The 10-K filing with the SEC notes,[2]

‘On March 25, 2025 we announced that, as part of our revisions to the Investment Policy, the Board approved the addition of Bitcoin as a treasury reserve asset, whereby a portion of our cash or future debt and equity issuances may be invested in Bitcoin. We have not set a maximum amount of Bitcoin we may accumulate, and may sell any Bitcoin we may acquire.’

However, a bit further on they explain they will also be permitted in invest in, ‘U.S. Dollar-denominated stablecoins.’

Hmm, there it is again…stablecoins.

I mentioned this yesterday with stablecoin value pumping higher in the crypto markets and last week with my view of Trump’s master plan for stablecoins.

Is GameStop’s innocuous mention of them another indicator that the U.S. economic system is going to lean into stablecoins?

Well, yes, I think it is.

World Liberty and the USD1

I say that because yesterday we also saw a major announcement from the Trump and Witkoff backed DeFi project, World Liberty Financial.

World Liberty Financial recently completed a $550 million token sale with over 85,000 token buyers.[3] Then yesterday they announced they were creating a new stablecoin called the USD1 that would be ‘institutional-ready’.[4]

Their announcement explains,

‘USD1 provides what algorithmic and anonymous crypto projects cannot — access to the power of DeFi underpinned by the credibility and safeguards of the most respected names in traditional finance,’ said Zach Witkoff, WLFI co-founder. ‘We’re offering a digital dollar stablecoin that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions.’

Don’t get me wrong, these moves are all still very bullish for Bitcoin.

However, there’s a clear push now, from within the Trump administration and now externally through projects like World Liberty Financial, and a public company like GameStop to integrate USD stablecoins into their operations.

I don’t quite think the market is fully aware of how significant the U.S. economy transitioning into a stablecoin-integrated system is for the entire crypto market.

That becomes a major catalyst for blockchains carrying the stablecoins, like Ethereum, Binance Smart Chain and Tron. And it becomes a major catalyst for the loosening of global crypto trading and investment.

Sure, Bitcoin adoption is going to help push the market to new all-time highs. But add to that, the rocket fuel of a surge in stablecoin issuance and growth, and this coming cycle might be even wilder than I’m expecting!

Trust in crypto,
Adam Atlantic