24/7 Cryptocurrency News

Why is GameStop Token Price Up 30% Today, and Will it Sustain?

GameStop's token price surged 30% after the firm approved Bitcoin as its Treasury Reserve. Will the GME price continue to rally?
Published by
Why is GameStop Token Price Up 30% Today, and Will it Sustain?

Highlights

  • GameStop's board of members unanimously approved Bitcoin for its Treasury Reserve, influencing token price.
  • Amidst U.S. Strategic Bitcoin Reserve discussion and BTC hype, the GameStop token price surged 30% today.
  • Its rally is at risk with a 93% drop in GME price from prime.

GameStop gained popularity in 2024 when a popular finance influencer, Roaring Kitty supported its stock, GME. Interestingly, someone even launched a crypto token on this, which was widespread in the crypto industry. Every time the stock’s worth grew, so did that token’s as investors built a connection between them. Interestingly, the gaming firm has also taken a step toward crypto adoption as the firm’s board member approved adopting Bitcoin, resulting in a 30% GameStop token price. Why? Let’s discuss this.

Advertisement

GameStop Token Price up 30% Amid Bitcoin Adoption Approach

GameStop’s board of members has unanimously approved the decision to adopt Bitcoin (BTC) for its treasury reserve. With an X post, the firm revealed the updates in the company’s investment policy, which now includes Bitcoin as a Treasury Reserve Asset. Interestingly, this decision aligns with MicroStrategy and Tesla’s BTC integration.

More importantly, CEO Ryan Cohen had already hinted. Previously, he posted a photo of himself with Bitcoin advocate Michael Saylor. The CEO of Strive Asset Management, Matt Cole, also urged the gaming firm to allocate nearly $5 billion in crash reserves to Bitcoin.

Although the firm has not disclosed the allocation, this news was significant enough to boost the stock price. More importantly, the GameStop token price surged 30% and currently trades at $0.002365 with a market capitalization of $16.28M per CoinmarketCap.

Additionally, investor enthusiasm has been heightened since Donald Trump signed the U.S. Strategic Bitcoin Reserve, so this news is another bullish add-on. As a result, the investors jumped into the opportunity, increasing the trading volume by 82% to $9.18M.

Experts believe the GameStop BTC adoption could influence the government’s decision to launch the reserve.

Advertisement

GME Price’s 93% Drop from ATH Sparks Concern

Although the recent surge is significant, there is more to go due to its prolonged downtrend. Under the influence of the bullish crypto market and Roaring Kitty’s post, GME token hit the ATH peak of $0.03201 in January 2024. However, ever since then, the downtrend has been persistent.

It is now 93% down from the ATH as it lacked any significant bullish uptrend this year. More importantly, the market is also not entirely favorable as the investors’ bearish sentiments overtook. The firm’s decision to adopt Bitcoin for its reserve holding is the much-needed bullish push.

Advertisement

Will the GameStop Token Price Rally Sustain?

As the GME token price has moved down from the peak, it indicates that the investors’ sentiments aren’t confident enough. Moreover, its prolonged downtrend is still in the chart, and the short-term surge could result in sellers jumping into taking the profit.

If the investors’ optimism remains high around this Bitcoin integration, the rally can be sustained. However, it will require further updates, BTC buying news, and similar factors.

Notably, MicroStrategy’s BTC buying resulted in the MSTR stock price rally; the GME stock price may witness similar results, directly influencing the GameStop token price.

Advertisement

Frequently Asked Questions

Why was the GameStop token price down in the first place?

Due to the investors' losing their interest in this crypto token and the market downtrend, the GameStop token price crashed significantly.

What are the investment updates from GameStop?

GameStop's investment updates include the adoption of Bitcoin as its Treasury Reserve, affecting its price.

What are the other firms that have adopted Bitcoin?

Firms like MicroStrategy, Metaplanet, Tesla, and others have adopted Bitcoin for their Treasure Reserve.
Share
Pooja Khardia

Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Why Is Gary Gensler Trending Today

Former U.S. SEC Chair Gary Gensler appeared on CNBC's "Squawk Box" and addressed his concerns…

September 19, 2025
  • 24/7 Cryptocurrency News

Why is Dogecoin Price Crashing Today Ahead of the Rex Osprey DOGE ETF Debut?

Dogecoin (DOGE), the pioneering meme coin, has taken a hit as the crypto market crashed…

September 15, 2025
  • 24/7 Cryptocurrency News

Ethereum Whales Move Over $200M From Exchanges as Price Drops 3%

Ethereum (ETH) experienced a drop of around 3% in the past 24 hours, to trade…

September 15, 2025
  • 24/7 Cryptocurrency News

Fed Rate Cut Watch: Can Powell’s Speech Keep the Crypto Rally Alive This Week?

The cryptocurrency market is expecting a big week ahead, as the U.S. Federal Reserve prepares…

September 15, 2025
  • 24/7 Cryptocurrency News

Crypto Market Week Highlights: Top Events, Movers and Shakers

The crypto market was buzzing this week with big whale moves, fresh economic reports, new…

September 14, 2025
  • 24/7 Cryptocurrency News

Why is Pepe Coin Price Rallying Today, September 13?

Pepe Coin price is outperforming other mainstream meme coins today, soaring around 13% over the…

September 13, 2025