Bitcoin Acquisitions Surge as Institutions, GameStop, and El Salvador Boost Holdings; Circle Files IPO, India Considers Crypto Tax Cut

The latest weekly crypto recap highlights a significant wave of Bitcoin acquisitions by institutions and governments. Strategy Group notably increased its Bitcoin holdings by 4,020 BTC through $427 million in stock issuances, bringing its total to 580,250 BTC. GameStop entered the crypto market with a 4,710 BTC purchase, while El Salvador expanded its state reserves by eight BTC, continuing its pro-Bitcoin stance despite IMF warnings. Additionally, Pakistan announced plans to build a state-led Bitcoin reserve, signaling growing governmental adoption. Circle, the issuer of the USDC stablecoin, filed for an IPO on the NYSE, aiming to issue 24 million class A shares. In India, positive discussions between the government and industry suggest potential regulatory easing and possible reduction in crypto taxation, which could stimulate trading activity. Other key developments include OpenSea launching its OS2 upgrade for multi-chain NFT trading, the U.S. SEC dropping its case against Binance, Coinbase reopening its San Francisco office, Thailand banning several unlicensed crypto exchanges, Cetus Protocol securing reimbursement following an exploit, and FTX initiating a second creditor payout round worth $5 billion. Together, these developments underscore growing institutional and sovereign interest in Bitcoin, evolving crypto regulations, and significant strategic pivots across the industry, all of which are likely to influence market sentiment and trading strategies.