BTC Price Edges Upward as GameStop Announces Bitcoin Investment Plan

The Bitcoin price edged up a fraction of a percentage in the last 24 hours to trade at $86,882 as of 1:06 a.m. EST on trading volume that dropped 8% to $28.9 billion.

The price of Bitcoin rose slightly over the last 24 hours to trade at $86,882 by 1:06 a.m. EST, while its trading volume decreased by 8% to $28.9 billion.

This uptick in the BTC price came as GameStop Corporation (GME) is reportedly planning to invest in the world’s leading cryptocurrency.

The video game retailer’s board of directors has unanimously approved a plan to acquire digital assets, part of which will be funded using a portion of the company’s corporate cash or future debt issuances.

"The Board of Directors of GameStop Corporation (NYSE: GME) today approved a plan for the company to invest up to $1 billion in an easily disclosed portion of its cash balance on hand or available future debt issuances in a principal investment in a basket of U.S.-dollar-linked stablecoins and bitcoin, and/or a combination of both, over the next several years. The company will be making its initial investment in 2025."

Also, BlackRock, Inc. (NYSE:BLK) launched an exchange-traded product (ETP) that tracks the price of Bitcoin in several European stock exchanges on Monday.

The iShares Bitcoin ETP (DE:IE003R806745) began trading on Monday, March 25, on Xetra, Euronext Amsterdam and Euronext Paris, according to the asset manager’s product page.

Earlier this month, reports indicated that the institutional asset manager was preparing to launch its first crypto ETPs in Europe.

These developments come amid a broader trend of major financial institutions increasing their involvement in the cryptocurrency industry.

Earlier this year, BlackRock updated a document for investors in its flagship Global Allocation investment strategy to include Bitcoin in its suggested asset class mix for the first time.

The world’s largest asset manager advised investors to allocate 2.5% of their portfolio to the world’s most valuable cryptocurrency.

Moreover, North Carolina lawmakers have introduced bills that could allocate up to 5% of state retirement funds to digital assets, such as Bitcoin.

These bills, which are part of the broader "Invest in Our Workforce Act of 2025," aim to diversify the state’s pension portfolio and potentially generate higher returns for taxpayers.

The bills, House Bill 471 and Senate Bill 364, were introduced by Representative Ben Alvarez and Senator Greg Harris, respectively.

Both bills propose an amendment to Chapter 135 of the North Carolina General Statutes to permit the State Treasurer to invest a portion of the retirement funds in accordance with the provisions of Article 9A of Chapter 58 of the General Statutes.

This would allow for investing up to 5% of the total funds in accordance with the new legislation.

These bills signal the growing institutional interest in cryptocurrency and reflect a broader trend of government entities exploring how to integrate digital assets into public financial systems.

Recently, the U.S. Congress has been actively discussing legislation related to cryptocurrencies.

Earlier this year, the House Financial Services Committee approved a bill that would create a new regulatory framework for stablecoins.

The bill, known as the "Stablecoin TEther, Paychain, and Trustcoin Act," would require stablecoin issuers to maintain reserves in a covered account at the Federal Reserve or in a Treasury security.

It would also subject stablecoin issuers to supervision by the Federal Reserve and create a new class of national "trustcoin" that could be issued by state-level trust companies and supervised by state banking regulators.

The bill is part of a broader effort by Congress to regulate the cryptocurrency industry.

Earlier this year, the Senate Banking Committee held a hearing on cryptocurrency regulation.

The hearing focused on the role of the Office of the Comptroller of the Currency (OCC) in regulating national banks’ participation in crypto activities.

The hearing was part of a broader effort by Congress to update financial regulations to reflect technological advancements and the growing popularity of cryptocurrencies.