Bitcoin Hits Record High of ~$112,000; ETFs See $5.77B Inflow in May
Key Takeaways
- Bitcoin hit a record of ~$112,000, gaining over 16% this year.
- Bitcoin ETFs saw $5.77B inflow in May, with $385M daily.
- GameStop bought 4,710 bitcoins for $512.6 million, shares then dipped 10.9%.
- Blockstream launched its app to buy/secure Bitcoin, supporting 31 languages.
- Pakistan plans a strategic Bitcoin reserve and supports mining with 2,000 MW.
Top Stories
Bitcoin hits record ~$112,000 amid easing tensions.
On May 28, 2025, it was reported that Bitcoin recently reached record highs of over $110,000, even reaching near $112,000 last week, gaining over 16% this year, drawing strength from macroeconomic factors and persistent inflows into spot bitcoin ETFs, and easing trade tensions.
Bitcoin ETFs see $5.77B inflow in May; $385M daily.
On May 28, 2025, U.S.-listed spot bitcoin ETFs had a net inflow of $5.77 billion in May, the highest since November, with Bitcoin's spot price recently reaching record highs above $110,000. Spot BTC ETFs daily net flow was $385.4 million, bringing cumulative net flows to $44.88 billion with total BTC holdings around 1.20 million.
GameStop buys 4,710 bitcoins for $512.6 million.
On May 28, 2025, GameStop announced it purchased 4,710 bitcoins for $512.6 million at a price of $108,837 per bitcoin, initiating its crypto purchasing plan. Shares of GME initially rose but then fell around 10% following a dip in BTC's price.
GameStop shares dip 10.9% after Bitcoin purchase.
On May 28, 2025, shares of GameStop dipped 10.9% following the announcement of the bitcoin purchase.
Blockstream unveils Bitcoin finance vision, launches app.
On May 28, 2025, Blockstream, led by CEO Dr. Adam Back, unveiled its vision for the "Future of Finance Runs on Bitcoin" at Bitcoin 2025 in Las Vegas, including Consumer, Enterprise, and Blockstream Asset Management (BAM) units. Blockstream also launched its app, enabling users to buy and secure Bitcoin in their own wallet, supporting 31 languages. Blockstream Enterprise, underpinned by the Liquid Network and Blockstream AMP, enables secure asset issuance, treasury and balance sheet management, and integration with custodians and exchanges; the Liquid Network recently surpassed $3.27 billion in total value locked (TVL).
Pakistan plans strategic Bitcoin reserve, supports mining.
On May 28, 2025, Pakistan announced plans to establish a strategic bitcoin reserve and support bitcoin mining, allocating 2,000 megawatts of electricity for it, inspired by the U.S. plan.
Regulation Front
U.S. VP encourages Bitcoin amid China's crypto aversion.
On May 28, 2025, Investing.com published an article stating that the U.S. vice president encourages embracing bitcoin amid China’s crypto aversion.
Bitcoin Conference caution; Trump admin supports crypto.
On May 28, 2025, traders are cautious ahead of the Bitcoin Conference in Las Vegas, featuring speakers like JD Vance, Michael Saylor, and members of the Trump family. At the conference, U.S. Vice President J.D. Vance stated that establishing a clear and pro-innovation regulatory framework for the crypto industry is a priority for U.S. President Donald Trump’s administration.
Adoption News
GameStop CEO cites macro concerns for Bitcoin buy.
On May 28, 2025, GameStop CEO Ryan Cohen stated at the Bitcoin 2025 Conference in Las Vegas that the decision to buy bitcoin was driven by macro concerns, viewing it as protection against certain risks.
Over 113 public companies hold Bitcoin.
On May 28, 2025, it was reported that over 113 public companies globally now hold bitcoin on their balance sheets, marking an increase of 11 new entrants over the past 30 days, according to data from BitcoinTreasuries.net.
Pompliano unveils GameStop's big Bitcoin bet meaning.
On May 28, 2025, U.Today published an article stating that Pompliano unveiled what the big Bitcoin bet by GameStop really means.
Market Pulse
'Rich Dad Poor Dad' author predicts $1M Bitcoin.
On May 28, 2025, the author of 'Rich Dad Poor Dad' predicted Bitcoin to reach $1 million amid a coming economic crash.
Nvidia's earnings may influence digital asset markets.
On May 28, 2025, it was reported that Nvidia's earnings announcement is expected to influence markets, particularly digital assets, due to the historical positive correlation between BTC and NVDA.
QCP: Elevated Bitcoin volatility, traders reducing exposure.
On May 28, 2025, QCP Capital in Singapore noted elevated front-end volatility with BTC trading in a tight $107K to $110K range. Perpetual futures open interest has eased, funding rates have normalized, and some prominent retail traders, including James Wynn, appear to be reducing exposure.
Older Bitcoiners' spending heats up: $4.02B since February.
On May 28, 2025, it was reported that older Bitcoiners’ spending has increased, with $4.02 Billion BTC spent since February.
Bitcoin climbs; MSTR shares slip, mNAV drops to 1.80.
On May 28, 2025, a divergence emerged between bitcoin and bitcoin-HODLer Strategy (MSTR). Bitcoin climbed approximately 13%, nearing the $110,000 mark, while MSTR shares slipped 3%, trading around $372; Strategy’s multiple to net asset value (mNAV) has dropped to 1.80.
NYDIG: Current Bitcoin bull move has room to run.
On May 28, 2025, NYDIG suggested that the current Bitcoin bull move still has plenty of room to continue its upward trajectory.
Bitcoin miners' stocks (MARA, RIOT, HUT) drop ~10%.
On May 28, 2025, it was reported that Bitcoin miners such as MARA Holdings (MARA), Riot Platforms (RIOT), and Hut 8 (HUT) each experienced a decrease of nearly 10% in their stock values.
Bitcoin treasury companies show losses; GME down 11%.
On May 28, 2025, Bitcoin treasury companies showed sizable losses, led by GameStop (GME), which was down 11% after announcing the purchase of just over 4,710 bitcoin.
Large investors distributing Bitcoin; market still accumulating.
On-chain activity showed large investors distributing coins, with the >10K BTC cohort shifting to net distribution as of May 26, 2025, although the market remains in accumulation mode.
Strategy's BTC purchase funded via stock, securities.
On May 28, 2025, it was reported that Strategy’s recent 4,020 BTC purchase, its smallest since May 5, reveals a significant change in funding structure. The acquisition was financed not only through common stock but also through preferred securities — 81.7% from common stock, 15.9% from STRK, and 2.4% from STRF, according to MSTR analyst Ben Werkman.
Bitcoin's market cap dominance consolidates above 64%.
Bitcoin options show call interest at $110,000.
On May 28, 2025, Bitcoin options expiring at the end of May 2025 show the highest concentration of call interest at $110,000.
$150 Million Bitcoin Transfer Stuns US Exchange.
On May 27, 2025, U.Today reported a $150 Million Bitcoin Transfer that stunned a major US exchange.
Price Watch
Bitcoin price slips to ~$108.5k, stays near ATH.
On May 28, 2025, Bitcoin's price slipped to around $108,500, remaining near its all-time high. BTC is down 0.71% from 4 p.m. ET Tuesday at $108,821.26 (24hrs: -1.07%).
Bitcoin pullback: Nearly 2% drop to ~$107,000.
On May 28, 2025, Bitcoin experienced a modest pullback, falling nearly 2% to just above the $107,000 level.
Bitcoin teasing downside break from April rally trendline.
On May 28, 2025, Bitcoin is teasing a downside break of the trendline characterizing the rapid price rally from early April lows near $75K.