According to Crypto Rover, GameStop Chairman Ryan Cohen revealed that the company decided to purchase $500 million in Bitcoin to diversify its treasury and align with emerging digital asset trends. Cohen stated that this move aims to enhance GameStop's balance sheet resilience and capitalize on Bitcoin's increasing institutional adoption, which could attract crypto-focused investors and influence trading volume in both GameStop and Bitcoin markets (source: Crypto Rover on Twitter, May 28, 2025). This marks a significant pivot for GameStop, potentially driving increased volatility and liquidity in crypto trading as traditional retail stocks embrace digital assets.

According to Crypto Rover (@rovercrc), Texas Governor Greg Abbott publicly posted about the creation of a strategic Bitcoin reserve on his official X profile on May 23, 2025. This move signals growing institutional adoption and state-level support for Bitcoin, which could drive positive price momentum and increase long-term confidence among crypto traders and investors. The announcement strengthens Texas’s position as a pro-crypto hub in the United States and could encourage similar policy actions from other states, further enhancing Bitcoin’s mainstream acceptance and market stability (source: @rovercrc on X, May 23, 2025).