Bitcoin has surged in recent days as traders bet U.S. president Donald Trump could be pulling back from his threat of global trade tariffs (though fears are swirling over a new, mystery threat).

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The bitcoin price has added around 10% since its early March lows but remains well off its peak of almost $110,000 per bitcoin set in January despite a a White House official revealing how Trump could spur the bitcoin price higher.

Now, as a BlackRock executive predicts a “big catalyst” for bitcoin could be on the horizon, traders are braced for meme stock darling GameStop to make a bitcoin-related announcement when it reports fourth-quarter results after Tuesday’s market close—potentially following in the footsteps of Michael Saylor’s Strategy.

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U.S. president Donald Trump hosted bitcoin and crypto company executives, including Strategy's Michael Saylor, at a White House bitcoin and crypto summit earlier this month.image: Getty

Last month, GameStop received a proposal from Strive Asset Management recommending that the brick-and-mortar video game retailer convert its $5 billion in cash reserves into bitcoin, a move it claims would transform the company into the "premier bitcoin treasury company in the gaming sector."

Strive Asset Management chief executive Matt Cole told GameStop CEO Ryan Cohen that he “has an incredible opportunity.”

“Letter received,” Cohen then posted to X. Just weeks earlier, Cohen set social media alight when he posted a picture of himself with Michael Saylor, the founder of software company turned acquisition vehicle Strategy.

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The bitcoin price has rocketed higher over the last year, recently falling back from its all-time high of almost $110,000 per bitcoin as traders pare back bets on Donald Trump's bitcoin and crypto policy.

Strategy, until recently known as MicroStrategy, now holds around 500,000 bitcoin worth $42 billion after it began aggressively buying bitcoin in 2020.

Saylor was one of a handful of bitcoin and crypto company executives that attended the White House digital asset summit hosted by U.S. president Donald Trump earlier this month.

Last week, Saylor predicted there’s about to be a “Cambrian explosion” of companies and countries buying bitcoin during a Blockworks podcast.