Michael Saylor and Senator Lummis call for a U.S. Bitcoin reserve at the DC Blockchain Summit, igniting markets and reframing Bitcoin as a strategic national asset.
GameStop shares sunk Thursday after its plan to sell debt in an effort to fund purchases of bitcoin raised some questions on Wall Street. It will use proceeds from this debt offering to buy the cryptocurrency. Trading in GameStop's stock, which is often included with other so-called “meme” stocks, can be volatile.
The sell-off might have to do with the convertible note pricing, while some speculated that it's a sign of investor disapproval of the bitcoin acquisition plans.
President Donald Trump's business ventures also announced further involvement with the sector. Since last Friday, the price of meme stocks Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) traded 15.5% and 14% higher, respectively, as of 11:57 a.m. ET Thursday. The price of Sui (CRYPTO: SUI) had blasted over 20% higher.