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.

U.S. President Donald Trump signed an order on Saturday with which he imposed a 25% tariff on the majority of goods imported from Mexico and Canada. The U.S. and its neighboring countries previously enjoyed a free trade agreement since 1994.

Trump’s order also included a 10% tariff on imports from China, a move that the Asian country intends to dispute with the World Trade Organization. China, Mexico, and Canada accounted for 40% of all imports in the United States last year while the U.S. did an estimated $1.6 trillion in business with these three trading partners.

There is a belief that the tariffs could spill into a trade war, which is why investors are deciding to back off riskier assets like crypto until they see the full effects. Further weakening of major coins is expected in the near future, although some experts believe the tariffs could be beneficial to crypto in the long run.

Bitcoin slipped below $93K late on Sunday before recovering to $95K early Monday morning. Ether, the world’s second priciest cryptocurrency, had it even worse, dropping by more than 10% on Monday. It traded below $2,600 per coin compared to the $3,300 price from Friday.

The sell-off also reflected on publicly traded companies that have ties with crypto. Crypto exchange Coinbase saw its stock plunge by 6.74% in pre-market trading while Microstrategy, the world’s largest corporate holder of Bitcoin, is down by 8%.

The post Bitcoin and Other Cryptocurrencies Plunge Amid Tariffs on Imports From Mexico and Canada 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 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.

The company also announced business accounts will have the ability to send cryptocurrency to supported third-party wallets and receive supported crypto tokens from external blockchain addresses.

“Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency,” PayPal stated in a press release. “Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly.”

PayPal has been one of the early adopters of cryptocurrency among major fintech companies. It provided users with a crypto management service in 2020 and later introduced the option to pay with cryptocurrencies through its stablecoin offering. The company also partnered with crypto exchange Coinbase and MoonPay, a provider of payment infrastructure for crypto, to allow its users easier cryptocurrency purchases.

 PayPal’s stock dipped by 1.25% on Wednesday to close at $77.36 per share. The company’s shares still remain 25.87% up year-to-date.

The post PayPal Allows U.S. Merchants to Buy, Hold, and Sell Crypto appeared first on theprimarymarket.com.

 MicroStrategy unveiled that it had purchased 18,300 Bitcoins from the beginning of August until September 12. This marks the company’s largest purchase of the world’s most valuable cryptocurrency since it bought 19,452 Bitcoins back in February 2021.

With the latest Bitcoin pickup, MicroStrategy strengthens its status as the largest corporate holder of the token. It now has a total of 244,800 Bitcoins, believed to be around 1% of all Bitcoins in existence, which are valued at approximately $14 billion.

MicroStrategy’s large purchase is believed to have contributed to Bitcoin’s 2.78% jump on Friday. The coin has been trading around $59,700 after the jump, approaching the $60K mark for the first time since late August.

MicroStrategy started buying Bitcoin as a hedge against inflation under former CEO and co-founder Michael Saylor. This strategy is believed to have made MicroStrategy’s stock appealing to investors who are crypto enthusiasts.

The shares of MicroStrategy tend to perform better in times when the crypto market is flourishing and are currently 105.06% up year-to-date compared to a 35.20% jump in Bitcoin during the same period.

The post MicroStrategy Buys $1.1 Billion Worth of Bitcoin in a Largest Purchase Since 2021 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.

FTX, which was once one of the largest crypto exchanges in the world, filed for bankruptcy in November 2022 after it was discovered that its founder and CEO, Sam Bankman-Fried, used customers’ funds for risky bets and personal expenses.  As part of the bankruptcy process, FTX said it will repay around $16.3 billion to its users while floating the idea of issuing refunds in cash and stablecoins.

Stablecoins are crypto assets that have their value tied to an outside commodity. In most cases, it is a currency like the US dollar or an asset like gold.

After learning about FTX’s plans, the SEC expressed its doubts by saying that it “is not opining as to the legality, under the federal securities law, of the transactions outlined in the Plan and reserves its rights to challenge transactions involving crypto assets.”

Additionally, the SEC asked for FTX’s bankruptcy plan to be amended and have its discharge provision removed. Discharge provision protects debtors from being sued again for the same cause.

“Unless the Plan provides that the Debtors shall not receive a discharge and removes any discharge injunction, the Court should deny confirmation,” the filing adds.

The post SEC Could “Challenge” Refunds to FTX Users in Crypto 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.

U.S. President Donald Trump signed an order on Saturday with which he imposed a 25% tariff on the majority of goods imported from Mexico and Canada. The U.S. and its neighboring countries previously enjoyed a free trade agreement since 1994.

Trump’s order also included a 10% tariff on imports from China, a move that the Asian country intends to dispute with the World Trade Organization. China, Mexico, and Canada accounted for 40% of all imports in the United States last year while the U.S. did an estimated $1.6 trillion in business with these three trading partners.

There is a belief that the tariffs could spill into a trade war, which is why investors are deciding to back off riskier assets like crypto until they see the full effects. Further weakening of major coins is expected in the near future, although some experts believe the tariffs could be beneficial to crypto in the long run.

Bitcoin slipped below $93K late on Sunday before recovering to $95K early Monday morning. Ether, the world’s second priciest cryptocurrency, had it even worse, dropping by more than 10% on Monday. It traded below $2,600 per coin compared to the $3,300 price from Friday.

The sell-off also reflected on publicly traded companies that have ties with crypto. Crypto exchange Coinbase saw its stock plunge by 6.74% in pre-market trading while Microstrategy, the world’s largest corporate holder of Bitcoin, is down by 8%.

The post Bitcoin and Other Cryptocurrencies Plunge Amid Tariffs on Imports From Mexico and Canada 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 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.

The company also announced business accounts will have the ability to send cryptocurrency to supported third-party wallets and receive supported crypto tokens from external blockchain addresses.

“Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency,” PayPal stated in a press release. “Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly.”

PayPal has been one of the early adopters of cryptocurrency among major fintech companies. It provided users with a crypto management service in 2020 and later introduced the option to pay with cryptocurrencies through its stablecoin offering. The company also partnered with crypto exchange Coinbase and MoonPay, a provider of payment infrastructure for crypto, to allow its users easier cryptocurrency purchases.

 PayPal’s stock dipped by 1.25% on Wednesday to close at $77.36 per share. The company’s shares still remain 25.87% up year-to-date.

The post PayPal Allows U.S. Merchants to Buy, Hold, and Sell Crypto appeared first on theprimarymarket.com.

 MicroStrategy unveiled that it had purchased 18,300 Bitcoins from the beginning of August until September 12. This marks the company’s largest purchase of the world’s most valuable cryptocurrency since it bought 19,452 Bitcoins back in February 2021.

With the latest Bitcoin pickup, MicroStrategy strengthens its status as the largest corporate holder of the token. It now has a total of 244,800 Bitcoins, believed to be around 1% of all Bitcoins in existence, which are valued at approximately $14 billion.

MicroStrategy’s large purchase is believed to have contributed to Bitcoin’s 2.78% jump on Friday. The coin has been trading around $59,700 after the jump, approaching the $60K mark for the first time since late August.

MicroStrategy started buying Bitcoin as a hedge against inflation under former CEO and co-founder Michael Saylor. This strategy is believed to have made MicroStrategy’s stock appealing to investors who are crypto enthusiasts.

The shares of MicroStrategy tend to perform better in times when the crypto market is flourishing and are currently 105.06% up year-to-date compared to a 35.20% jump in Bitcoin during the same period.

The post MicroStrategy Buys $1.1 Billion Worth of Bitcoin in a Largest Purchase Since 2021 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.

FTX, which was once one of the largest crypto exchanges in the world, filed for bankruptcy in November 2022 after it was discovered that its founder and CEO, Sam Bankman-Fried, used customers’ funds for risky bets and personal expenses.  As part of the bankruptcy process, FTX said it will repay around $16.3 billion to its users while floating the idea of issuing refunds in cash and stablecoins.

Stablecoins are crypto assets that have their value tied to an outside commodity. In most cases, it is a currency like the US dollar or an asset like gold.

After learning about FTX’s plans, the SEC expressed its doubts by saying that it “is not opining as to the legality, under the federal securities law, of the transactions outlined in the Plan and reserves its rights to challenge transactions involving crypto assets.”

Additionally, the SEC asked for FTX’s bankruptcy plan to be amended and have its discharge provision removed. Discharge provision protects debtors from being sued again for the same cause.

“Unless the Plan provides that the Debtors shall not receive a discharge and removes any discharge injunction, the Court should deny confirmation,” the filing adds.

The post SEC Could “Challenge” Refunds to FTX Users in Crypto appeared first on theprimarymarket.com.