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GameStop shares sink 11% after BTC purchase

  • GameStop shares fell nearly 11% after announcing its first Bitcoin purchase, leading to a sell-off reaction.
  • The company bought 4,710 Bitcoin worth $513 million, following its earlier commitment to a BTC treasury strategy.
  • Shares of Trump Media and Technology Group also dropped over 24% after revealing a $2.5 billion capital raise for Bitcoin investment.
  • GameStop CEO cited Bitcoin's advantages over gold and highlighted its potential for long-term value storage and growth compared to the more mature gold market.

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