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Would GameStop buying Bitcoin help BTC price hit 0K?

Despite strong institutional demand, Bitcoin (BTC) has struggled to reclaim the $100,000 level for the past 50 days, leading investors to question the reasons behind the bearishness despite a seemingly positive environment. 

This price weakness is particularly intriguing given the US Strategic Bitcoin Reserve executive order issued by President Donald Trump on March 6, which allows BTC acquisitions as long as they follow “budget-neutral” strategies.

Bitcoin fails to keep up with gold’s returns despite positive news flow

On March 26, GameStop Corporation (GME), the North American video game and consumer electronics retailer, announced plans to allocate a portion of its corporate reserves to Bitcoin. The company, which was on the verge of bankruptcy in 2021, successfully capitalized on a historic short squeeze and managed to secure an impressive $4.77 billion in cash and equivalents by February 2025.

Would GameStop buying Bitcoin help BTC price hit $200K?

Largest corporate Bitcoin holdings. Source: BitcoinTreasuries.NET

A growing number of US-based and international companies have followed Michael Saylor’s Strategy (MSTR) playbook, including the Japanese firm Metaplanet, which recently appointed Eric Trump, son of US President Donald Trump, to its newly established strategic board of advisers. Similarly, the mining conglomerate MARA Holdings (MARA) adopted a Bitcoin treasury policy to “retain all BTC” and increase its exposure through debt offerings.

There must be a strong reason for Bitcoin investors to sell their holdings, especially as gold is trading just 1.3% below its all-time high of $3,057. For example, while the US administration adopted a pro-crypto stance following Trump’s election, the infrastructure needed for Bitcoin to serve as collateral and integrate into traditional financial systems remains largely undeveloped.

Would GameStop buying Bitcoin help BTC price hit $200K?

Bitcoin/USD (orange) vs. gold / S&P 500 index. Source: TradingView / Cointelegraph

The US spot Bitcoin exchange-traded fund (ETF) is limited to cash settlement, preventing in-kind deposits and withdrawals. Fortunately, a potential rule change, currently under review by the US Securities and Exchange Commission, could reduce capital gain distributions and enhance tax efficiency, according to Bitseeker Consulting chief architect Chris J. Terry.

Regulation and Bitcoin integration into TradFi remains an issue 

Banks like JPMorgan primarily serve as intermediaries or custodians for cryptocurrency-related instruments such as derivatives and spot Bitcoin ETFs. The repeal of the SAB 121 accounting rule on Jan. 23—an SEC ruling that imposed strict capital requirements on digital assets—does not necessarily guarantee broader adoption.

For example, some traditional investment firms, like Vanguard, still prohibit clients from trading or holding shares of the spot Bitcoin ETFs, while administrators like BNY Mellon have reportedly restricted mutual funds’ exposure to these products. In fact, a significant number of wealth managers and advisers remain unable to offer any cryptocurrency investments to their clients, even when listed on US exchanges.

The Bitcoin derivatives market lacks regulatory clarity, with most exchanges opting to ban North American participants and choosing to register their companies in fiscal havens. Despite the growth of the Chicago Mercantile Exchange (CME) over the years, it still accounts for only 23% of Bitcoin’s $56.4 billion futures open interest, while competitors benefit from fewer capital restrictions, easier client onboarding, and less regulatory oversight on trading.

Related: SEC plans 4 more crypto roundtables on trading, custody, tokenization, DeFi

Would GameStop buying Bitcoin help BTC price hit $200K?

Bitcoin futures open interest ranking, USD. Source: CoinGlass

Institutional investors remain hesitant to gain exposure to Bitcoin markets due to concerns about market manipulation and a lack of transparency among leading exchanges. The fact that Binance, KuCoin, OK and Kraken have paid significant fines to US authorities for potential anti-money laundering violations and unlicensed operations further fuels the negative sentiment toward the sector.

Ultimately, the buying interest from a small number of companies is not enough to push Bitcoin’s price to $200,000, and additional integration with the banking sector remains uncertain, despite more favorable regulatory conditions. 

Until then, Bitcoin’s upside potential will continue to be limited as risk perception remains elevated, especially within the institutional investment community.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Chief rabbi condemns BBC’s ‘mishandled response’ to anti-IDF chanting at Glastonbury – as Bob Vylan issue new statement

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Chief rabbi condemns BBC's 'mishandled response' to anti-IDF chanting at Glastonbury - as Bob Vylan issue new statement

The chief rabbi has described the BBC’s response to anti-IDF chanting at Glastonbury as “belated and mishandled” – as the punk-rap duo involved, Bob Vylan, said the UK government needed to talk about its “criminal inaction”.

Sir Ephraim Mirvis said “vile Jew-hatred” had been aired at the Somerset music festival and it was a “time of national shame”.

Confidence in the BBC’s “ability to treat antisemitism seriously” has been brought to a “new low”, he said in a post on X, adding that “outright incitement to violence and hatred” appeared to be acceptable if it was couched as “edgy political commentary”.

Ordinary people had not only failed to see incitement “for what it is” but had cheered it, chanted it, and celebrated it, he said. “Toxic Jew-hatred is a threat to our entire society,” he added.

Bob Vylan, posting a new statement on Instagram on Tuesday, said they were “not for the death of Jews, Arabs or any other race or group of people”.

Rather, they were for the “dismantling of a violent military machine” – the Israel Defence Forces.

Bob Vylan chanted “death to the IDF” at Glastonbury. As many as 95% of the IDF are thought to be Jewish.

In their statement, the group said they were a “distraction from the story” and that whatever “sanctions” they received would also be a distraction.

Their US visas have been revoked and United Talent Agency, their US representatives, have dropped them.

Bob Vylan with their MOBO award in London in November 2022. Pic: Reuters
Image:
Bob Vylan with their MOBO award in London in November 2022. Pic: Reuters

Referring to the war in Gaza, they claimed the UK government does not want them to ask “why they remain silent in the face of this atrocity”, “why they aren’t doing more to stop the killing” and “feed the starving”.

They added: “The more time they talk about Bob Vylan, the less time they spend answering for their criminal inaction.

“We are being targeted for speaking up. We are not the first, we will not be the last, and if you care for the sanctity of human life and freedom of speech, we urge you to speak up, too.”

It has emerged that Tim Davie, the BBC’s director-general, was at Glastonbury when the duo led chants of “Death to the IDF” which were broadcast live.

The prime minister’s spokesman, asked if the PM had confidence in Mr Davie, said Sir Keir Starmer had “confidence in the BBC”, adding: “The position of the director-general is a matter for the BBC’s board.”

Speaking in the Commons, Culture Secretary Lisa Nandy said “accountability” was important and it was something she had “impressed upon the BBC leadership”.

She added: “When you have one editorial failure, it’s something that must be gripped. When you have several, it becomes a problem of leadership.”

The cabinet minister said she’d called Mr Davie after Bob Vylan’s set had been broadcast to find out why it had aired, and why the feed had not been cut.

“I expect answers to these questions without delay,” she said.

Meanwhile Dame Caroline Dinenage, chair of the culture, media and sport committee, has written to Mr Davie in relation to the corporation’s Glastonbury coverage.

The committee has said the letter asks about editorial and decision-making processes and whether consideration was given to broadcasting with a delay. It also asks about staffing levels at the festival and contingency planning.

Secretary of State for Culture, Media, and Sport Lisa Nandy arrives in Downing Street, London, for a Cabinet meeting. Picture date: Tuesday May 13, 2025.
Image:
Lisa Nandy, the culture secretary, has claimed there is a ‘problem of leadership’ at the BBC. File pic: PA

Avon and Somerset Police has begun a criminal investigation and is reviewing footage of both Bob Vylan and Kneecap’s performances at Glastonbury.

The force said a senior detective had been appointed – and it had been contacted by people from around the world.

“We… recognise the strength of public feeling,” it said.

During Kneecap’s set, one member suggested starting a “riot” outside his bandmate’s forthcoming court appearance, before clarifying that he meant “support”. Liam Og O hAnnaidh, also known as Mo Chara, is charged with a terror offence.

Moglai Bap and Mo Chara of Kneecap perform at Glastonbury. Pic: Reuters
Image:
Moglai Bap and Mo Chara of Kneecap performing at Glastonbury. Pic: Reuters

Bob Vylan had been due to tour the US before their visas were revoked.

US deputy secretary of state Christopher Landau said action had been taken “in light of their hateful tirade at Glastonbury, including leading the crowd in death chants”.

“Foreigners who glorify violence and hatred are not welcome visitors to our country,” he added.

👉 Listen to Sky News Daily on your podcast app 👈

During Bob Vylan’s set, the duo performed in front of a screen that showed several messages, including one that claimed Israel’s actions in Gaza amounted to “genocide”.

The war in Gaza began after Hamas militants attacked Israel on 7 October 2023 and killed 1,200 people and took about 250 hostage.

Israel’s offensive in Gaza has led to the deaths of more than 56,500 people, according to the Hamas-run health ministry, which does not differentiate between civilians and combatants.

Read more from Sky News:
Starmer faces rebellion at key welfare cuts vote
Trump piles more pressure on central bank chief

Media watchdog Ofcom has said the BBC “clearly has questions to answer” over the live stream from Glastonbury.

A BBC spokesperson said: “The director-general was informed of the incident after the performance and at that point he was clear it should not feature in any other Glastonbury coverage.”

The broadcaster respects freedom of expression but “stands firmly against incitement to violence”, they said.

They added: “The antisemitic sentiments expressed by Bob Vylan were utterly unacceptable and have no place on our airwaves…

“The team were dealing with a live situation, but with hindsight we should have pulled the stream during the performance. We regret this did not happen.”

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Connecticut governor approves law prohibiting crypto use in government

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Connecticut governor approves law prohibiting crypto use in government

Connecticut governor approves law prohibiting crypto use in government

Many provisions of the legislation, which received overwhelming support in the state House and Senate, take effect on Oct. 1.

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Chief rabbi condemns BBC’s ‘mishandled response’ to anti-IDF chanting at Glastonbury – as Bob Vylan issue new statement

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Chief rabbi condemns BBC's 'mishandled response' to anti-IDF chanting at Glastonbury - as Bob Vylan issue new statement

The chief rabbi has described the BBC’s response to anti-IDF chanting at Glastonbury as “belated and mishandled” – as the punk-rap duo involved, Bob Vylan, said the UK government needed to talk about its “criminal inaction”.

Sir Ephraim Mirvis said “vile Jew-hatred” had been aired at the Somerset music festival and it was a “time of national shame”.

Confidence in the BBC’s “ability to treat antisemitism seriously” has been brought to a “new low”, he said in a post on X, adding that “outright incitement to violence and hatred” appeared to be acceptable if it was couched as “edgy political commentary”.

Ordinary people had not only failed to see incitement “for what it is” but had cheered it, chanted it, and celebrated it, he said. “Toxic Jew-hatred is a threat to our entire society,” he added.

Bob Vylan, posting a new statement on Instagram on Tuesday, said they were “not for the death of Jews, Arabs or any other race or group of people”.

Rather, they were for the “dismantling of a violent military machine” – the Israel Defence Forces.

Bob Vylan chanted “death to the IDF” at Glastonbury. As many as 95% of the IDF are thought to be Jewish.

In their statement, the group said they were a “distraction from the story” and that whatever “sanctions” they received would also be a distraction.

Their US visas have been revoked and United Talent Agency, their US representatives, have dropped them.

Bob Vylan with their MOBO award in London in November 2022. Pic: Reuters
Image:
Bob Vylan with their MOBO award in London in November 2022. Pic: Reuters

Referring to the war in Gaza, they claimed the UK government does not want them to ask “why they remain silent in the face of this atrocity”, “why they aren’t doing more to stop the killing” and “feed the starving”.

They added: “The more time they talk about Bob Vylan, the less time they spend answering for their criminal inaction.

“We are being targeted for speaking up. We are not the first, we will not be the last, and if you care for the sanctity of human life and freedom of speech, we urge you to speak up, too.”

It has emerged that Tim Davie, the BBC’s director-general, was at Glastonbury when the duo led chants of “Death to the IDF” which were broadcast live.

The prime minister’s spokesman, asked if the PM had confidence in Mr Davie, said Sir Keir Starmer had “confidence in the BBC”, adding: “The position of the director-general is a matter for the BBC’s board.”

Speaking in the Commons, Culture Secretary Lisa Nandy said “accountability” was important and it was something she had “impressed upon the BBC leadership”.

She added: “When you have one editorial failure, it’s something that must be gripped. When you have several, it becomes a problem of leadership.”

The cabinet minister said she’d called Mr Davie after Bob Vylan’s set had been broadcast to find out why it had aired, and why the feed had not been cut.

“I expect answers to these questions without delay,” she said.

Meanwhile Dame Caroline Dinenage, chair of the culture, media and sport committee, has written to Mr Davie in relation to the corporation’s Glastonbury coverage.

The committee has said the letter asks about editorial and decision-making processes and whether consideration was given to broadcasting with a delay. It also asks about staffing levels at the festival and contingency planning.

Secretary of State for Culture, Media, and Sport Lisa Nandy arrives in Downing Street, London, for a Cabinet meeting. Picture date: Tuesday May 13, 2025.
Image:
Lisa Nandy, the culture secretary, has claimed there is a ‘problem of leadership’ at the BBC. File pic: PA

Avon and Somerset Police has begun a criminal investigation and is reviewing footage of both Bob Vylan and Kneecap’s performances at Glastonbury.

The force said a senior detective had been appointed – and it had been contacted by people from around the world.

“We… recognise the strength of public feeling,” it said.

During Kneecap’s set, one member suggested starting a “riot” outside his bandmate’s forthcoming court appearance, before clarifying that he meant “support”. Liam Og O hAnnaidh, also known as Mo Chara, is charged with a terror offence.

Moglai Bap and Mo Chara of Kneecap perform at Glastonbury. Pic: Reuters
Image:
Moglai Bap and Mo Chara of Kneecap performing at Glastonbury. Pic: Reuters

Bob Vylan had been due to tour the US before their visas were revoked.

US deputy secretary of state Christopher Landau said action had been taken “in light of their hateful tirade at Glastonbury, including leading the crowd in death chants”.

“Foreigners who glorify violence and hatred are not welcome visitors to our country,” he added.

👉 Listen to Sky News Daily on your podcast app 👈

During Bob Vylan’s set, the duo performed in front of a screen that showed several messages, including one that claimed Israel’s actions in Gaza amounted to “genocide”.

The war in Gaza began after Hamas militants attacked Israel on 7 October 2023 and killed 1,200 people and took about 250 hostage.

Israel’s offensive in Gaza has led to the deaths of more than 56,500 people, according to the Hamas-run health ministry, which does not differentiate between civilians and combatants.

Read more from Sky News:
Starmer faces rebellion at key welfare cuts vote
Trump piles more pressure on central bank chief

Media watchdog Ofcom has said the BBC “clearly has questions to answer” over the live stream from Glastonbury.

A BBC spokesperson said: “The director-general was informed of the incident after the performance and at that point he was clear it should not feature in any other Glastonbury coverage.”

The broadcaster respects freedom of expression but “stands firmly against incitement to violence”, they said.

They added: “The antisemitic sentiments expressed by Bob Vylan were utterly unacceptable and have no place on our airwaves…

“The team were dealing with a live situation, but with hindsight we should have pulled the stream during the performance. We regret this did not happen.”

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