In order to fund its Bitcoin purchase, GameStop will attempt to raise $1.3 billion through the Convertible Senior Notes offering. The notes will mature in 2030 at which they will be redeemable in cash, shares of GameStop’s Class A common stock, or a combination of both.

Bitcoin, the world’s most valuable cryptocurrency, reached an all-time high price of $109,026.02 per coin back in January. It has since lost 18% of its value and has been hovering between $84K and $87K in recent weeks.

GameStop is attempting a strategy made famous by Michael Saylor’s MicroStrategy, which began investing in Bitcoin in 2020 as a hedge against inflation. Since then, MicroStrategy’s stock soared by close to 3,000%. A number of other companies, including electric vehicle maker Tesla and healthcare provider Semler Scientific, were inspired to follow the same blueprint in recent years.

GameStop’s stock had a brief jump after the announcement of the Bitcoin purchase plan, climbing by 15% at one point on Wednesday and closing at $28.36 per share. It later dipped in the after-hours trading, going down by 7.62%.

The post GameStop Announces Intention to Invest in Bitcoin appeared first on theprimarymarket.com.

Investors have been moving away from risky assets in recent weeks due to uncertainty caused by the United States’ decision to change its tariff policy towards some of its most important trade partners. Experts believe that investors are increasingly wary of politics having too much impact on Bitcoin, despite the fact that the cryptocurrency was created to be an asset devoid of any political influence.

While unsurprising, the Bitcoin sell-off was much bigger than expected and at one point resulted in a dip below $80,000 for the first time since November.

After a rally to an all-time price of $109,241 in January, Bitcoin saw a steady decline in February and reached its low point of $78,659.27 early on Friday. It later rebounded to $86,517.22 before settling at around $84K on Saturday.

Bitcoin might see further decline down the line with the key support level being set around $70K per coin. It is at this point when dip buyers might step in, stopping the decline and causing another rally for the cryptocurrency.

Other major cryptocurrencies and meme coins had it even worse than Bitcoin in February. Ethereum dropped by 33.76% last month, Solana is down by 41%, while Dogecoin had a 38% slide.

The post Bitcoin Plummets By 17% in February, Endures Its Worst Month Since 2022 appeared first on theprimarymarket.com.

In a recent note, Bitfinex’s analysts made a case for Bitcoin reaching a price of $200,000 “around mid-2025” based on previous trends in the cryptocurrency market. Their minimum target price for that period is $140,000.

“The current bull market reflects strong institutional demand, led by ETFs and spot accumulation,” the note said. “Historical data suggests we are mid-cycle, following the April 2024 halving, with the market likely to peak around [the third and fourth quarter of] 2025, approximately 450 days post-halving. Historically, post-halving years have seen the strongest rallies.”

Bitfinex analysts added that the price of Bitcoin might see some oscillations in early 2025. However, they don’t see a significant drop due to a variety of factors, including the broader adoption of Bitcoin as an asset and friendlier approach by governments and financial institutions.

Bitcoin embarked on a massive rally in early November and broke the $100,000 mark for the first time on December 5. The coin is currently 139.62% up year-to-date.

The post Bitcoin Reaches New All-Time High, Could Hit $200K “Around Mid-2025” According to Bitfinex appeared first on theprimarymarket.com.

Bitcoin soared following the U.S. presidential elections on expectations of a crypto-friendly government. However, the rally never went as far as crypto investors expected, and they are now taking profit instead of waiting for the $100K barrier to be broken. One estimate is that $60 billion worth of Bitcoins have been moved in the past month.

According to experts, the current slide might not last long. Their view is that the profit-taking is an expected move after record highs and that Bitcoin will move up sooner rather than later.

“While breaking through now would be a major bullish signal, a brief pullback may be needed to gather momentum before the next attempt,” Mati Greenspan, CEO of Quantum Economics, told CNBC.

“Historically, when new all-time highs are reached, there is typically a period of consolidation before further moves up,” Brett Reeves of crypto-focused company BitGo added.

The next major movement of Bitcoin’s price is expected to take place around December 27th. This is when $11.8 billion in Bitcoin options are set to expire, and it is believed that the market could end up going either way.

The post Bitcoin Dips After it Fails to Reach $100K Mark appeared first on theprimarymarket.com.

The subject of the lawsuit is a transaction that saw Binance and its former CEO, Changpeng Zhao, sell a 20% stake in FTX back to the company. The deal was conducted by FTX’s sister company, Alameda Research, through a combination of assets, including digital tokens and stablecoin.

FTX now claims that Alameda was unable to fund the purchase of the stake at the time because it was already “insolvent.” It deemed the deal as “fraudulent” and is looking to recoup the assets transferred to Binance as well as “compensatory and punitive damages to be determined at trial.”

Binance, on the other hand, rejected any wrongdoings through a short statement issued on Sunday.

“The claims are meritless, and we will vigorously defend ourselves,” said Binance.

At its peak in early 2022, FTX was the world’s third-largest cryptocurrency exchange, with a valuation of $32 billion. However, it was soon discovered that the company, namely its CEO Sam Bankman-Fried, mishandled funds and used them for personal benefit. Users rushed to withdraw their holdings, causing FTX to collapse and file for bankruptcy in November 2022.

The post Defunct Crypto Exchange FTX Sues Former Rival Binance for $1.8 Billion appeared first on theprimarymarket.com.

The expectation is that the new administration will take a more friendly approach to cryptocurrencies and other digital assets and pave the way for their regulation.

Bitcoin, the world’s most valuable cryptocurrency, improved by 10% on Wednesday, surpassing the $75,000 mark for the first time ever. It traded at $75,954.04, its all-time high price, at one point before the rally eased up. The coin is now 72% up year-to-date.

Several other crypto coins also saw a significant surge in price. Ether, which is the world’s second most valuable cryptocurrency, had a gain of 12% and traded at $2,686.42 at its peak. Meme coin Dogecoin, famously backed by Tesla CEO Elon Musk, has jumped by more than 16%.

Companies that are tied to the cryptocurrency market have also benefited from the rally. The stocks of crypto exchange Coinbase have jumped by more than 30%, while the shares of online brokerage app Robinhood Markets, which recently introduced crypto trading to its platform, increased by 19% in value. Additionally, business intelligence firm MicroStrategy, the world’s largest corporate Bitcoin holder, saw its stock rise by 14%.

The post Bitcoin Reaches a New Record, Surpasses $75K Mark appeared first on theprimarymarket.com.

In a recent appearance on Yahoo Finance’s Opening Bid podcast, Vince recognized the increasing popularity of digital importance but said that crypto won’t dethrone the U.S. dollar anytime soon.

“I don’t think the dollar is going to go anywhere,” Vince said.

According to Vince, there is a potential to put blockchain technology, the basis of the majority of digital assets, to use in the financial sector, but crypto overall has its limitations. This mainly concerns the lack of regulations as well as the volatility that is often associated with these assets.

“Whether or not an individual wants to put all their money in a particular coin is a slightly different thing,” he explained.

Vince also added that the emergence of cryptocurrency and other digital assets is an opportunity for his bank and the entire financial sector to evolve and be more innovative.

“The way we treat and make the dollar work efficiently and effectively in the world’s financial system is going to evolve,” he shared.

The post CEO of America’s Oldest Bank Says Crypto Won’t Replace Dollar appeared first on theprimarymarket.com.

The summary of the Federal Open Market Committee meeting showed that the majority of Fed officials were open to cutting the benchmark rate of 5,3%, the highest one in 23 years, at the next meeting if data continues to show inflation cool down. Additionally, it appeared that some officials were in favor of making cuts in July, although the move didn’t receive much support.

The crypto market has taken notice of the shift in the Fed’s policy, with major cryptocurrencies and meme coins surging.

Bitcoin, which largely traded below $60K last week, has hit a price of $61,625.40 at one point. This marks the highest level the cryptocurrency has reached since early August and a more than 13% rise from the $53K-$55K range it traded at the beginning of the month.

Ether also saw significant growth on Thursday, surging to $2,686.18 per coin before slightly coming down to trade around $2,600. Dogecoin jumped 1.23%, while Fantom improved by more than 16%. 

The post Bitcoin Climbs Above $61K as Fed Minutes Release Signals Incoming Rate Cut appeared first on theprimarymarket.com.

Head of OTC Trading at BlockFills John Divine and roundtable anchor Rob Nelson discussed the rise of the cryptocurrency, noting that the recent Bitcoin event in Nashville, Tennessee, which drew attention to the high-profile figures who have taken an interest in the currency, including presidential candidate Robert F. Kennedy Jr. and former President Donald Trump.

Divine did note, however, that following the event, the U.S. government took the decision to move some of its Bitcoin holdings, thereby slowing down the crypto’s recent growth surge. The BlockFills executive added that the outlook of political figures on Bitcoin could significantly affect its growth trajectory going forward, with prominent leaders expressing both bullish and bearing outlooks on Bitcoin depending on their political affiliations.

The post Bitcoin Races to $60,000 as Investor Confidence Grows appeared first on theprimarymarket.com.

Investors have taken notice of the softening economy data and possible recession in the U.S. and are steering to lower-risk assets while the geopolitical tension also played a role in dealing a blow to the crypto market.

Bitcoin’s free-fall started last Monday and continued throughout the week, losing around $14,000 of its value for a drop of 20%. It was the worst weekly performance for the world’s most valuable coin since the crypto exchange FTX collapsed in late 2022.

Early on Monday, Bitcoin sank all the way to $50K from its Sunday price of $58K at one point before slightly rebounding.

Ether, on the other hand, lost 30% of its value in the past week, marking the worst weekly decline for the cryptocurrency since 2021. It went from trading at around $3,300 to now being priced at $2,320.

“It’s a big reminder that bitcoin and crypto in general are risk assets and sit at the pointy end of the risk spectrum,” Tony Sycamore, market analyst at IG, told Reuters.

The post Bitcoin Sinks Below 53K, Ether Has Its Worst Decline Since 2021 appeared first on theprimarymarket.com.

In order to fund its Bitcoin purchase, GameStop will attempt to raise $1.3 billion through the Convertible Senior Notes offering. The notes will mature in 2030 at which they will be redeemable in cash, shares of GameStop’s Class A common stock, or a combination of both.

Bitcoin, the world’s most valuable cryptocurrency, reached an all-time high price of $109,026.02 per coin back in January. It has since lost 18% of its value and has been hovering between $84K and $87K in recent weeks.

GameStop is attempting a strategy made famous by Michael Saylor’s MicroStrategy, which began investing in Bitcoin in 2020 as a hedge against inflation. Since then, MicroStrategy’s stock soared by close to 3,000%. A number of other companies, including electric vehicle maker Tesla and healthcare provider Semler Scientific, were inspired to follow the same blueprint in recent years.

GameStop’s stock had a brief jump after the announcement of the Bitcoin purchase plan, climbing by 15% at one point on Wednesday and closing at $28.36 per share. It later dipped in the after-hours trading, going down by 7.62%.

The post GameStop Announces Intention to Invest in Bitcoin appeared first on theprimarymarket.com.

Investors have been moving away from risky assets in recent weeks due to uncertainty caused by the United States’ decision to change its tariff policy towards some of its most important trade partners. Experts believe that investors are increasingly wary of politics having too much impact on Bitcoin, despite the fact that the cryptocurrency was created to be an asset devoid of any political influence.

While unsurprising, the Bitcoin sell-off was much bigger than expected and at one point resulted in a dip below $80,000 for the first time since November.

After a rally to an all-time price of $109,241 in January, Bitcoin saw a steady decline in February and reached its low point of $78,659.27 early on Friday. It later rebounded to $86,517.22 before settling at around $84K on Saturday.

Bitcoin might see further decline down the line with the key support level being set around $70K per coin. It is at this point when dip buyers might step in, stopping the decline and causing another rally for the cryptocurrency.

Other major cryptocurrencies and meme coins had it even worse than Bitcoin in February. Ethereum dropped by 33.76% last month, Solana is down by 41%, while Dogecoin had a 38% slide.

The post Bitcoin Plummets By 17% in February, Endures Its Worst Month Since 2022 appeared first on theprimarymarket.com.

In a recent note, Bitfinex’s analysts made a case for Bitcoin reaching a price of $200,000 “around mid-2025” based on previous trends in the cryptocurrency market. Their minimum target price for that period is $140,000.

“The current bull market reflects strong institutional demand, led by ETFs and spot accumulation,” the note said. “Historical data suggests we are mid-cycle, following the April 2024 halving, with the market likely to peak around [the third and fourth quarter of] 2025, approximately 450 days post-halving. Historically, post-halving years have seen the strongest rallies.”

Bitfinex analysts added that the price of Bitcoin might see some oscillations in early 2025. However, they don’t see a significant drop due to a variety of factors, including the broader adoption of Bitcoin as an asset and friendlier approach by governments and financial institutions.

Bitcoin embarked on a massive rally in early November and broke the $100,000 mark for the first time on December 5. The coin is currently 139.62% up year-to-date.

The post Bitcoin Reaches New All-Time High, Could Hit $200K “Around Mid-2025” According to Bitfinex appeared first on theprimarymarket.com.

Bitcoin soared following the U.S. presidential elections on expectations of a crypto-friendly government. However, the rally never went as far as crypto investors expected, and they are now taking profit instead of waiting for the $100K barrier to be broken. One estimate is that $60 billion worth of Bitcoins have been moved in the past month.

According to experts, the current slide might not last long. Their view is that the profit-taking is an expected move after record highs and that Bitcoin will move up sooner rather than later.

“While breaking through now would be a major bullish signal, a brief pullback may be needed to gather momentum before the next attempt,” Mati Greenspan, CEO of Quantum Economics, told CNBC.

“Historically, when new all-time highs are reached, there is typically a period of consolidation before further moves up,” Brett Reeves of crypto-focused company BitGo added.

The next major movement of Bitcoin’s price is expected to take place around December 27th. This is when $11.8 billion in Bitcoin options are set to expire, and it is believed that the market could end up going either way.

The post Bitcoin Dips After it Fails to Reach $100K Mark appeared first on theprimarymarket.com.

The subject of the lawsuit is a transaction that saw Binance and its former CEO, Changpeng Zhao, sell a 20% stake in FTX back to the company. The deal was conducted by FTX’s sister company, Alameda Research, through a combination of assets, including digital tokens and stablecoin.

FTX now claims that Alameda was unable to fund the purchase of the stake at the time because it was already “insolvent.” It deemed the deal as “fraudulent” and is looking to recoup the assets transferred to Binance as well as “compensatory and punitive damages to be determined at trial.”

Binance, on the other hand, rejected any wrongdoings through a short statement issued on Sunday.

“The claims are meritless, and we will vigorously defend ourselves,” said Binance.

At its peak in early 2022, FTX was the world’s third-largest cryptocurrency exchange, with a valuation of $32 billion. However, it was soon discovered that the company, namely its CEO Sam Bankman-Fried, mishandled funds and used them for personal benefit. Users rushed to withdraw their holdings, causing FTX to collapse and file for bankruptcy in November 2022.

The post Defunct Crypto Exchange FTX Sues Former Rival Binance for $1.8 Billion appeared first on theprimarymarket.com.

The expectation is that the new administration will take a more friendly approach to cryptocurrencies and other digital assets and pave the way for their regulation.

Bitcoin, the world’s most valuable cryptocurrency, improved by 10% on Wednesday, surpassing the $75,000 mark for the first time ever. It traded at $75,954.04, its all-time high price, at one point before the rally eased up. The coin is now 72% up year-to-date.

Several other crypto coins also saw a significant surge in price. Ether, which is the world’s second most valuable cryptocurrency, had a gain of 12% and traded at $2,686.42 at its peak. Meme coin Dogecoin, famously backed by Tesla CEO Elon Musk, has jumped by more than 16%.

Companies that are tied to the cryptocurrency market have also benefited from the rally. The stocks of crypto exchange Coinbase have jumped by more than 30%, while the shares of online brokerage app Robinhood Markets, which recently introduced crypto trading to its platform, increased by 19% in value. Additionally, business intelligence firm MicroStrategy, the world’s largest corporate Bitcoin holder, saw its stock rise by 14%.

The post Bitcoin Reaches a New Record, Surpasses $75K Mark appeared first on theprimarymarket.com.

In a recent appearance on Yahoo Finance’s Opening Bid podcast, Vince recognized the increasing popularity of digital importance but said that crypto won’t dethrone the U.S. dollar anytime soon.

“I don’t think the dollar is going to go anywhere,” Vince said.

According to Vince, there is a potential to put blockchain technology, the basis of the majority of digital assets, to use in the financial sector, but crypto overall has its limitations. This mainly concerns the lack of regulations as well as the volatility that is often associated with these assets.

“Whether or not an individual wants to put all their money in a particular coin is a slightly different thing,” he explained.

Vince also added that the emergence of cryptocurrency and other digital assets is an opportunity for his bank and the entire financial sector to evolve and be more innovative.

“The way we treat and make the dollar work efficiently and effectively in the world’s financial system is going to evolve,” he shared.

The post CEO of America’s Oldest Bank Says Crypto Won’t Replace Dollar appeared first on theprimarymarket.com.

The summary of the Federal Open Market Committee meeting showed that the majority of Fed officials were open to cutting the benchmark rate of 5,3%, the highest one in 23 years, at the next meeting if data continues to show inflation cool down. Additionally, it appeared that some officials were in favor of making cuts in July, although the move didn’t receive much support.

The crypto market has taken notice of the shift in the Fed’s policy, with major cryptocurrencies and meme coins surging.

Bitcoin, which largely traded below $60K last week, has hit a price of $61,625.40 at one point. This marks the highest level the cryptocurrency has reached since early August and a more than 13% rise from the $53K-$55K range it traded at the beginning of the month.

Ether also saw significant growth on Thursday, surging to $2,686.18 per coin before slightly coming down to trade around $2,600. Dogecoin jumped 1.23%, while Fantom improved by more than 16%. 

The post Bitcoin Climbs Above $61K as Fed Minutes Release Signals Incoming Rate Cut appeared first on theprimarymarket.com.

Head of OTC Trading at BlockFills John Divine and roundtable anchor Rob Nelson discussed the rise of the cryptocurrency, noting that the recent Bitcoin event in Nashville, Tennessee, which drew attention to the high-profile figures who have taken an interest in the currency, including presidential candidate Robert F. Kennedy Jr. and former President Donald Trump.

Divine did note, however, that following the event, the U.S. government took the decision to move some of its Bitcoin holdings, thereby slowing down the crypto’s recent growth surge. The BlockFills executive added that the outlook of political figures on Bitcoin could significantly affect its growth trajectory going forward, with prominent leaders expressing both bullish and bearing outlooks on Bitcoin depending on their political affiliations.

The post Bitcoin Races to $60,000 as Investor Confidence Grows appeared first on theprimarymarket.com.

Investors have taken notice of the softening economy data and possible recession in the U.S. and are steering to lower-risk assets while the geopolitical tension also played a role in dealing a blow to the crypto market.

Bitcoin’s free-fall started last Monday and continued throughout the week, losing around $14,000 of its value for a drop of 20%. It was the worst weekly performance for the world’s most valuable coin since the crypto exchange FTX collapsed in late 2022.

Early on Monday, Bitcoin sank all the way to $50K from its Sunday price of $58K at one point before slightly rebounding.

Ether, on the other hand, lost 30% of its value in the past week, marking the worst weekly decline for the cryptocurrency since 2021. It went from trading at around $3,300 to now being priced at $2,320.

“It’s a big reminder that bitcoin and crypto in general are risk assets and sit at the pointy end of the risk spectrum,” Tony Sycamore, market analyst at IG, told Reuters.

The post Bitcoin Sinks Below 53K, Ether Has Its Worst Decline Since 2021 appeared first on theprimarymarket.com.