Recently, Bitcoin adoption has gained momentum due to new initiatives. GameStop makes its first venture into cryptocurrency, and 26 U.S. states are exploring Bitcoin reserves, signaling changing attitudes among businesses and governments towards BTC and pushing it closer to mainstream acceptance.
Exploration of Bitcoin Reserves in the U.S.
In the U.S., 26 states have introduced bills to establish Bitcoin reserves, aiming to allocate up to 10% of state funds to BTC. Wisconsin led the way in late 2024, buying $588 million in Bitcoin ETFs. Currently, states like Texas and Oklahoma are developing similar plans. Oklahoma's Strategic Bitcoin Reserve Act (HB1203) gained attention after it passed the House on March 24, 2025, with a vote of 77-15.
GameStop Ventures into Bitcoin
On March 25, 2025, GameStop announced plans to incorporate Bitcoin into its corporate treasury. With $4.8 billion in cash, the video game retailer aims to diversify assets after closing 590 stores last year. This move marks a significant entry into corporate cryptocurrency investment.
Ongoing Strategy in Bitcoin Investment
Strategy, a well-known Bitcoin accumulator, held 506,137 BTC as of March 24, 2025, representing over 2.4% of Bitcoin's total supply. This move follows a recent purchase of 6,911 BTC, funded by a $711.2 million share sale. This is business as usual for the firm, unlike GameStop's new initiatives.
These developments indicate that Bitcoin adoption is becoming more widespread. State investments and GameStop’s entry highlight changing perceptions of BTC, though volatility risks and legislative hurdles remain. As adoption continues to grow, experts predict a potential price rebound by mid-2025.
