Bitcoin prices moved 1.2% higher to $97,197.0, but are expected to finish the week with a muted performance due to concerns over US trade tariffs and sticky inflation. The news that meme stock major GameStop Corp is considering investing in Bitcoin did little to boost crypto prices.
GameStop’s shares rose sharply on the news, but the company’s cash holdings of around $4.62 billion are unclearly linked to any potential investments in crypto. Despite this, the world’s largest cryptocurrency remains the focus of investors.
Barclays disclosed a new position in BlackRock’s US spot Bitcoin ETF, valued at $131mn, placing it among the top 10 holders of IBIT. Other institutional investors such as Goldman Sachs and Fidelity also hold significant stakes.
Broader crypto prices were higher on Friday, with Ether rising 4% to $2,713.25 and XRP soaring over 12%. However, gains in altcoins were limited by constrained risk appetite in the market. Crypto markets largely avoided an overnight rally in US stocks amid relief over Trump postponing plans to impose reciprocal tariffs.
Source: https://www.investing.com/news/cryptocurrency-news/bitcoin-price-today-flat-at-96k-gamestop-report-sparks-little-cheer-3869630