Game Theory Meets GameStop

Happy Monday Bitcoiners, it's Bam here with another Bitcoin update!

Each week, our team at Bitcoin News saves you time by curating the most impactful events into a concise, easy-to-read update.

Notable events this week include:

• GameStop adopts Bitcoin and raises $1.3 billion through convertible notes.

• Toulouse becomes first French city to accept Bitcoin for subway rides.

• The fourth solo block of March was discovered this week.

Let’s dive in! ⚡

Azteco. For every bit of life.

LATEST NEWS 📰

🙌 ADOPTION

• University of Wyoming philosophy professor Bradley Rettler releases a new video exploring the philosophical foundations of Bitcoin.

• Toulouse becomes the first city in France to accept Bitcoin for subway payments, following Cannes plans to accept Bitcoin payments by summer.

• Xapo Bank launches Bitcoin-backed USD loans up to $1M, with collateral secured in an MPC vault and never rehypothecated.

⚖️ LEGAL

• The U.S. Securities and Exchange Commission drops its lawsuit against Kraken with no penalties, admission of wrongdoing, or changes to its operations.

• South Korea's Financial Intelligence Unit (FIU) plans to sanction unregistered exchanges like KuCoin, CoinW, Bitunix, and KCEX for running Korean-language sites without approval.

• Coinbase is in advanced talks to acquire Deribit, the top Bitcoin and Ether options exchange, for $4–5 billion, pending regulatory approval in Dubai.

📈 MARKETS

• GameStop updates its investment policy to include Bitcoin as a treasury reserve asset. With $4.6B in cash, it plans to raise $1.3B via 0% convertible notes due 2030, with proceeds going toward general purposes, including Bitcoin.

• ​BlackRock, the world's largest asset manager, launches its first Bitcoin exchange-traded product (ETP) in Europe.

• Bitwise’s Bitcoin Standard ETF (OWNB) adds Fold (FLD) and Bitdeer (BTDR), bringing its total to 22 companies holding over 648,000 BTC—3.2% of the total supply.

⛏️ MINING

• In Zambia's remote Ikelenge district, a Bitcoin mine uses surplus hydropower, generating 30% of the plant’s revenue and helping keep local electricity rates low.

• Crusoe Energy sells its Bitcoin mining and Digital Flare Mitigation operations to NYDIG, including 425+ modular data centers across seven U.S. states and Argentina, and about 135 employees.

• The fourth solo block in March was discovered outside major mining pools, signaling growing Bitcoin decentralization.

🗳️ POLITICS

• Senator Bobby Moreno says he aims to pass Senator Cynthia Lummis’ BITCOIN Act, which would establish a Strategic Bitcoin Reserve, into law by August

• Senator Cynthia Lummis proposes using the United States’ abundant energy resources to acquire Bitcoin in a budget-neutral fashion.

• SEC Chair nominee Paul Atkins states at his confirmation hearing: “Since 2017, I’ve seen the regulatory void in digital assets stifle innovation. As chair, my priority is clear, rational rules with Congress. We need a solid foundation for this industry to thrive.”

BAMS 2 SATS 🧢

What We've All Been Waiting For

This week marked a milestone moment: GameStop officially announced it is adding Bitcoin to its treasury reserve strategy.

The company currently holds $4.7 billion in cash reserves, which—as Michael Saylor would say—has been melting away under inflation. But GameStop didn’t stop there. In a move that caught markets off guard, it also announced a $1.3 billion convertible senior note issuance, with proceeds earmarked for buying Bitcoin.

Now, some are asking: Why issue debt before using the cash on hand? The reality is, we don’t yet know whether GameStop has already begun accumulating Bitcoin. Public companies are not required to disclose such purchases until their quarterly filings.

From a strategic perspective, it would make perfect sense to quietly deploy capital before going public with the news. It’s possible they’ve already started stacking, and are now borrowing to follow a playbook not unlike MicroStrategy’s. Whether it’s a full commitment or a phased approach, one thing is clear: GameStop isn’t alone.

Corporations Are Accumulating—Fast

In just the past week, several public companies have added more than 7,000 BTC to their treasuries. At the same time, Bitcoin Spot ETFs finally posted a week of net positive inflows, after a period of heavy sell-offs in recent weeks.

Meanwhile, global liquidity continues to rise, and the broader environment is aligning for Bitcoin to move higher. Whether that move is immediate or not, one thing is hard to ignore: we’re living through a tipping point in financial history.

Bitcoin is no longer a fringe asset. It's being adopted by public companies, institutional funds, and now national governments. The signal is loud—but most are still asleep.

Well, if they don’t get it—more sats for us.

🟠

Stay safe and keep on stacking!
Bam

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