US EditionGameStop purchases more than $500 million in bitcoin in first crypto push
- GameStop, a video game retailer led by CEO Ryan Cohen, announced on May 28, 2025, that it purchased 4,710 bitcoins worth about $513 million.
- Following the board’s unanimous decision in March to incorporate bitcoin into its treasury assets, the company raised $1.5 billion by issuing convertible notes to fund its cryptocurrency investments.
- GameStop’s move echoes a strategy by software company MicroStrategy, which became the largest corporate bitcoin holder by buying billions in recent years.
- Shares of GameStop surged nearly 3% in premarket trading after the announcement, while bitcoin traded near $108,837 on May 27, 2025.
- This bitcoin acquisition marks a strategic shift highlighting increasing corporate adoption of crypto, which analyst Gautam Chhugani calls “a solid sign of confidence in crypto's ability to generate future value.
68 Articles
68 Articles
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GameStop buys over $500M worth of bitcoin in 1st crypto investment
GameStop is investing in bitcoin.On Wednesday, the video game retailer disclosed an acquisition of 4,710 bitcoin.It marks GameStop’s first time buying the cryptocurrency following the company revising its investment policy to include bitcoin as a "treasury reserve asset." The 4,710 bitcoin that GameStop bought had a value of $505 million as of Wednesday. GAMESTOP TO CLOSE ‘SIGNIFICANT NUMBER' OF STORES IN 2025, INVEST IN BITCOINThe purchase com…
Investors flee GameStop following $500 million Bitcoin splurge
GameStop, the embattled video game retailer, announced its first large acquisition of Bitcoin on Wednesday, disclosing a purchase of more than $500 million worth of the currency as part of the company’s attempt to boost its ailing profits. GameStop has purchased 4,710 Bitcoins, according to a statement. But while similar investments have been a boon for other companies, GameStop has yet to reap the benefits from its pivot to crypto. After an i…
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