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Bitcoin Hovers Around $87K After Mt. Gox’S Massive BTC Transfer

Bitcoin hovered around $88,000 Tuesday after two sessions of gains, largely due to significant transfers by the defunct Japanese cryptocurrency exchange, Mt. Gox.

The world’s largest cryptocurrency fell 0.2% to $87,333.

The token jumped at the start of the week after investors welcomed reports suggesting expectations of a measured approach by U.S. President Donald Trump while imposing fresh trade tariffs on April 2.

GameStop Echoes Strategy in Doubling Down on Bitcoin, Expects to Close More Stores in 2025

GameStop said on Tuesday that its board has unanimously approved the addition of bitcoin as a treasury reserve asset.

The decision echoes that of Strategy, the largest corporate holder of bitcoin, which in February dropped the word "Micro" from its name and unveiled a new logo, to emphasize its commitment to the cryptocurrency space.

GameStop said it will use a portion of its cash or future debt or equity issuances to be invested in bitcoin, but did not specify the maximum amount of bitcoin it might buy, according to its quarterly filing.

Mt. Gox Moves $1 Billion in Bitcoin—But Payments Aren't Going Out, Says Glassnode

Mt. Gox has transferred over 11,000 Bitcoin to two separate wallets, but Glassnode analysts told Decrypt it's unlikely this shuffle is preparation to begin repaying more of the bankrupt exchange’s creditors.

According to analytics firm Arkham Intelligence, Mt. Gox deposited 893 BTC into one of its hot wallets and 10,608 BTC into a new change wallet in the past 24 hours.

This deposit follows two similar transfers on March 11, when the exchange’s administrators sent 332 BTC to the same hot wallet and 11,833 BTC to one of its cold wallets.

Trump's World Liberty Financial Crypto Venture to Launch Stablecoin

Donald Trump's World Liberty Financial crypto venture will launch a dollar-pegged stablecoin, it said in a statement on Tuesday, after raising more than half a billion dollars from selling a separate digital token.

The stablecoin, called USD1, will be fully backed by U.S. Treasuries, dollars and other cash equivalents and is designed to keep a value of $1, World Liberty said in the statement.

Dollar-pegged stablecoins such as Tether and USDC have ballooned in recent years and now act as a key cog in the multi-trillion dollar crypto trading industry, helping move funds between different cryptocurrencies or into regular cash.

BlackRock Launches Bitcoin Fund in Europe Following Roaring IBIT Success

BlackRock has launched a new Bitcoin exchange-traded product in Europe through its iShares fund service as issuers push forward on efforts to create crypto-focused products following the success of U.S.-based Bitcoin funds. 

The iShares Bitcoin ETP (IB1T) is listed on German, French, and Dutch stock exchanges, according to a prospectus on the iShares website.

“Each ETP security corresponds to a specific amount of Bitcoin,” the prospectus reads.

SEC Schedules Four New Roundtables for Crypto Task Force

The SEC's Crypto Task Force announced Tuesday it will host four more roundtables on crypto and digital asset regulation.

The roundtables would run from April to June, building on the agency's efforts to create clearer rules for the industry.

Crypto roundtables are a way for the SEC to "hear a lively discussion among experts" in order to understand current regulatory issues and what the Commission can do to “solve them," Commissioner Hester Peirce, who leads the task force, said in a statement.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Tuesday was $26.83 million. The total net asset value of Bitcoin spot ETFs is $99.07 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.68%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net inflow on March 25 was iShares Bitcoin Trust (IBIT), with a net inflow of $42.03 million.

Source: SoSoValue