On May 28, 2025, GameStop, a well-known American video game and electronics retailer, confirmed the acquisition of 4,710 Bitcoins worth over $512 million via a post on X. This investment marks the company’s first foray into cryptocurrency, particularly after Bitcoin’s recent all-time high.
The decision follows a unanimous vote by GameStop’s board in February 2025 to include Bitcoin as a treasury-reserve asset in their investment policy.
Previously, on March 26, 2025, GameStop had stated its intention to utilize its $1.3 billion from a convertible senior note offering for general corporate purposes, including Bitcoin acquisitions.
"$GME This 4,710 Bitcoin purchase makes GameStop the 13th public company with the most Bitcoin in the world."
— Han Akamatsu (@Han_Akamatsu) May 28, 2025
GameStop CEO Ryan Cohen Follows In Michael Saylor’s Footsteps
The market reacted positively, seeing GameStop shares rise by 4.3% in premarket trading, with current trading at $36.52. Ryan Cohen, GameStop’s CEO, has demonstrated strong support for Bitcoin, evidently following the example set by MicroStrategy’s Michael Saylor, who has invested heavily in Bitcoin, buying billions worth.
“I like looking where no one else is. That’s where the best opportunities are.”
— Ryan Cohen
— Simply Bitcoin (@SimplyBitcoinTV) May 22, 2025
Key Takeaways
- GameStop confirms the acquisition of 4,710 Bitcoins, valued at over half a billion, through a post on X.
- The market reacted positively as shares surged 4.3% in premarket trading. GME currently trades at $36.52.
Explore more about GameStop’s crypto strategy and investment details.
