- Bitcoin Price fell to $82,480 after briefly hitting $88,474 earlier in the week, influenced by U.S. inflation data showing PCE increased by 0.4% in February.
- GameStop announced plans to add Bitcoin to its balance sheet and aims to raise $1.3 billion in debt to fund cryptocurrency purchases.
- Brazil may become the next nation to purchase Bitcoin as a strategic reserve, with a high-ranking official stating it would be “in the country’s public interest.”
Bitcoin declined nearly 2% this week, settling at $82,480 after reaching a three-week high of $88,474 on Monday. The downturn followed Friday’s U.S. Commerce Department report showing the Personal Consumption Expenditures (PCE) Price Index jumped 0.4% in February—its largest monthly increase in over a year, reigniting inflation concerns and dampening appetite for risk assets.
The cryptocurrency market continues to respond sensitively to macroeconomic indicators, with Bitcoin and equities both retreating Friday as persistent inflation and trade tensions weigh on investor sentiment. Despite the week-end dip, U.S. Bitcoin ETFs maintained positive momentum through most of the week.
According to Farside Investors data, American Bitcoin ETFs recorded inflows Monday through Thursday before Friday’s negative turn. The total weekly inflow reached approximately $196.4 million—a notable achievement following substantial outflows last month. This suggests investors view Bitcoin’s current price, which remains 24% below its all-time high, as an attractive entry point.
## Corporate Bitcoin Adoption Expands
GameStop made headlines Tuesday by announcing an updated Investment Policy that includes adding “certain cryptocurrencies, including Bitcoin” to its balance sheet. The video game retailer followed this announcement with plans to raise $1.3 billion through debt offerings to fund its Bitcoin acquisition strategy, mirroring Strategy (formerly MicroStrategy).
While GameStop‘s stock initially rose on the news, it subsequently declined as investors appeared skeptical about the debt-raising plan. The company, which became synonymous with the 2021 meme stock phenomenon when retail traders dramatically drove up its share price, now appears to be seeking financial stabilization through Bitcoin investment.
## Mining Industry Evolves
The cryptocurrency mining sector gathered in Fort Lauderdale this week for Mining Disrupt, the industry’s largest conference. Engineering representatives from leading manufacturers emphasized diversification into AI data centers as a strategic move for miners facing reduced profitability from Bitcoin’s price fluctuations and increasing mining difficulty.
Interestingly, small businesses exploring entry into cryptocurrency mining appear drawn to Dogecoin (DOGE) ASICs rather than Bitcoin mining equipment, suggesting a continued interest in alternative mining opportunities beyond the dominant cryptocurrency.
## National Adoption on the Horizon?
Brazil might become the next nation to adopt Bitcoin as a strategic reserve. Pedro Giocondo Guerra, chief of staff to Vice President Geraldo Alckmin in President Inácio Lula da Silva’s administration, stated that purchasing and holding Bitcoin would be “in the (country’s) public interest” during a congressional ceremony.
The potential move comes as Brazil, which hosts South America’s largest cryptocurrency market, contends with currency challenges—the Brazilian real was the worst-performing major currency last year. This development could signal growing interest in sovereign Bitcoin holdings beyond El salvador‘s pioneering approach.
## Misinformation Circulates
A doctored video purportedly showing President Trump reading the Bitcoin whitepaper in the Oval Office gained traction across social media platforms this week. While clearly fabricated, the video stirred excitement among some cryptocurrency supporters.
The incident highlights the contrast between Trump’s recent embrace of Bitcoin and cryptocurrency and his previous stance, when he called Bitcoin a “scam” and stated he was “not a fan” of the digital asset. This transformation in perspective illustrates the evolving political landscape surrounding cryptocurrency in the United States.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- FTX to Begin Paying Major Creditors at End of May, Court Reveals
- Kalshi Sues Nevada, New Jersey Regulators Over Sports Contract Ban
- Dogecoin Mining Surge: From Small Businesses to Nasdaq-Listed Firms
- Bitcoin Price Falls Below $80,000 as Inflation Fears and Trump Tariffs Loom
- UAE Dirham Takes Spotlight as Sonic Labs Drops US Dollar Stablecoin
