GameStop Confirms Purchase of 4710 Bitcoins Worth Over Half a Billion
BY
Ben Graham
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On 28 May 2025, popular American video game and electronics retailer GameStop confirmed the purchase of 4710 Bitcoins through a post on X. The company’s first crypto investment, especially after Bitcoin’s recent ATH, is worth over $512 million.
The move comes after GameStop’s board unanimously approved an update to its investment policy to add BTC as a treasury-reserve asset in February 2025.
On 26 March 2025, the company stated its intention to use its $1.3 billion in private offering of convertible senior notes (that can later be swapped for company stock) “for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with GameStop’s Investment Policy.”
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GameStop CEO Ryan Cohen Follows In Michael Saylor’s Footsteps
The market reacted positively as GameStop shares surged 4.3% in premarket trading. Currently GME is trading at $36.52.
GameStop CEO Ryan Cohen is known to be a pro-Bitcoin head. Following in the footsteps of Strategy’s Michael Saylor, Cohen also shared a picture with him in February 2025.
Saylor bought billions worth of BTC. The most recent update, on 1 May 2025, is that Saylor has acquired 15,355 Bitcoins worth over $1.4 billion.
Strategy is likely to continue buying more BTC, funded through a mix of Class A and Series A preferred share offerings. With over 553,000 BTC under control, Strategy’s purchase underscores its strong conviction in Bitcoin and belief that it will rally in the coming years.
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Key Takeaways
GameStop confirmed the purchase of 4710 Bitcoins worth over half a billion, through a post on X,
The market reacted positively as GameStop shares surged 4.3% in premarket trading. Currently GME is trading at $36.52.
The post GameStop Confirms Purchase of 4710 Bitcoins Worth Over Half a Billion appeared first on 99Bitcoins.